The JVB Indexed Money Market Account

The Juniata Valley Bank is an independent community bank headquartered in Mifflintown, Juniata County, Pennsylvania. The Bank was established on August 5, 1867. The bank has grown over time to include 15 local community offices in Huntingdon, Juniata, McKean, Mifflin, Perry, and Potter Counties, along with two ancillary offices that focus on loans and other financial services.

The Indexed Money Market Account is an FDIC insured deposit account offered to bank customers. The FDIC coverage limit is determined at the participant level rather than at the plan level.

The Indexed Money Market Account is a tiered, variable rate account. Your interest rate and annual percentage yield may change. The minimum rate of interest for the top tier is based on the Wall Street Journal 90-day T-Bill Rate discounted by a maximum of 1.25%. Tiers Two and Three are not tied to an index and do not offer a minimum allowable rate. Interest is compounded monthly and credited monthly. The bank, at its discretion, may offer a rate greater than the minimum allowable rate.

The JVB Indexed
Money Market Account
Annual Percentage
Yield*
Interest Rate
Tier 1
Aggregate Plan Balance
$25,000 or more
0.20% 0.20%
Tier 2
Aggregate Plan Balance
Less than $25,000, but greater
than or equal to $15,000
0.15% 0.15%
Tier 3
Aggregate Plan Balance greater
than $1,000 but less than $15,000
0.10% 0.10%

*APY is accurate as of September 20, 2017.

Minimum balance requirement to open: A minimum of $1000 is required to open this account.

Minimum balance requirement to obtain the disclosed annual percentage yield: You must maintain a minimum balance of $1000 in the account each day to obtain the disclosed annual percentage yield.

Balance computation method: The Bank uses the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal balance in the account each day.

Account Fees: A monthly fee of $12.00 is assessed every statement cycle if the minimum daily balance at the plan level falls below $5,000.00 any day of the statement cycle. Fees may reduce earnings on the account.

Accrual of interest on non-cash deposits: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Transaction limitations: You may make no more than six (6) pre-authorized withdrawals, automatic or telephone transfers, checks, drafts, and debit card and similar transactions from your account per month.

Account closure: If you close your account before interest is credited, you will not receive the accrued interest. If you close your account within 90 days of the opening date, you will be charged a $20.00 fee.