Save for a vacation, education, or special event with a special savings account and watch it grow! There are no minimum balance requirements. A special savings account earns the same dividend rate as a regular savings account. Dividends are compounded and credited to the account quarterly on the average daily balance.
What is Regulation D (Reg D)?
Reg D is a federal regulation that limits the number and type of withdrawals without a signature from savings accounts to six (6) per month. The Federal Reserve requires financial institutions to treat Savings accounts differently than checking accounts because Savings accounts are intended to be established for long term savings with few withdrawals.
Click the link below to see more information on Reg D and how it may affect you
Regulation D FAQ Handout