Account Analysis Frequently Asked Questions


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Questions?  We have answers.

Q:  What is my average Daily Balance?
This is the average balance in your checking account.   You may calculate this by averaging the balances at the end of each day on your bank statement.

Q:  Why do you deduct a Reserve?
  The bank is required by the Federal Reserve to maintain reserves to assure you the adequate margins of safety for your deposits.  Reserve funds are not investable and therefore not included in the Earnings Credit.

Q:  What is an Uncollected Balance?
The Uncollected Balance is the average amount of your account balance during the month that was in the process of collection.  This means you deposited the check and we have sent it to the bank it is drawn on but it has not yet arrived.  These funds are not investable and therefore not included and therefore not included in the Earnings Credit.  Collected means the check has arrived at the bank the check is drawn on.  These funds are investable and are included in your Earnings Credit.

Q:  What is an Earnings Credit and how is the rate established?
  An Earnings Credit is interest calculated on your Available Balance and is used to offset service fees.  The rate is based on the Average Discount Rate of the 91 Day Treasury Bill auctions held during the month.

Q:  What is an Available Balance?
The Available Balance is the Average Daily Balance in your account less the Uncollected Balance and Reserves.  It represents the average amount of your deposits that were investable by the bank during the month.

Q:  If my Earnings Credit is not sufficient to cover my service fees, how are the fees collected?
  The sum not offset by the Earnings Credit is debited to your account and clearly indicated on the Customer Account Analysis and on your bank statement.

Q:  Can the charges for service be changed?
Yes, depending on our actual costs as well as competitive factors.  In fact, some charges are presently being reduced.

Q:  I don’t like to pay service fees.  How can I avoid them?
First, be sure you are efficient in the use of your bank accounts.  Consolidate accounts where possible and write no more checks than are necessary (for example, write only one check each month to each vendor/supplier if possible).  Second, determine the balance needed to support your banking services.  Maintaining that balance on average will eliminate service fees.  Please call on us to help if you have questions.

Q:  What if I still don’t understand my Customer Account Analysis when it arrives?
Just bring the report in and discuss it with your bank officer.  We will be happy to explain each and every entry to your satisfaction.