Money Market Account
from Valley National Bank

The Money Market Investments Accounts offer comparable interest rates to standard savings accounts, with checking privileges. Customers will receive a checkbook style register and a monthly statement. It has a initial deposit of $1000. If the average daily collected balance falls below $1000 for the month, or if the number of pre-authorized withdrawals within a monthly statement cycle exceeds 6, the current interest rate will be reduced by 1% or to the current regular Passbook Savings interest rate. Benefits are $0.25 per deposited item over 20 per monthly statement cycle, if the average daily collected balance falls below $1000 for the month, a $10 service charge will be applied, no interest will be paid if the account is closed before the statement cycle date, interest compounded monthly and paid monthly, and a $5.00 excessive usage fee.