OVB's Money Fund is a money market account that marries the earning power of a CD with limited check writing capabilities.
Service charge of $10 per month applies for accounts with a minimum average monthly balance below $10,000. Service charge is waived for accounts with a minimum average monthly balance of $10,000 or more.
Required initial deposit of $10,000.
This account follows standard money market rules: Limit of 6 transfers or withdrawals each month, by check, debit card, or similar order payable to third parties.
All certificates of deposit are automatically renewable. Interest may be credited to an existing account Monthly (certificate must be $10,000 or more for monthly interest), Quarterly, Semi-Annually or Annually or sent to an account by ACH.
The minimum balance for minors (ages 0-18) is $500.00 for all certificates.
Minimum balance for board rate CDs is $2,500.
Minimum balance for CD Specials is $10,000.
Public Funds over $250,000 are ineligible for CD Specials.