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 16 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 on the upper limit of the federal funds target rate range (Index) set by the Federal Open Market Committee and published by the Federal Reserve.  The Top Tier interest rate will be calculated by subtracting a maximum of 1.00% from the Index if your balance is greater than or equal to $1,000,000. For details on the remaining tiers, please see our Truth-in-Savings document.  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
Top Tier  
Aggregate Plan Balance
$1,000,000 or more
1.25% 1.24%
Intermediate Tier 
Aggregate Plan Balance
Less than $1,000,000, but greater
than or equal to $500,000
1.00% 1.00%

Second Intermediate Tier 
Aggregate Plan Balance
Less than $500,000, but greater
than or equal to $250,000

0.85% 0.85%
Third Intermediate Tier 
Aggregate Plan Balance
Less than $250,000, but greater
than or equal to $100,000
0.75% 0.75%
Fourth Intermediate Tier 
Aggregate Plan Balance
Less than $100,000, but greater
than or equal to $50,000
0.60% 0.60%
Fifth Intermediate Tier 
Aggregate Plan Balance
Less than $50,000, but greater
than or equal to $25,000
0.50% 0.50%
Sixth Intermediate Tier 
Aggregate Plan Balance
Less than $25,000, but greater
than or equal to $15,000
0.15% 0.15%
Bottom Tier 
Aggregate Plan Balance
Less than $15,000 but greater
than or equal to $1,000
0.10% 0.10%

*APY is accurate as of December 5, 2018.

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 the minimum balance in the account each day (as described in the various tiers of the above chart) 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.

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