Consumer Banking Fee Schedule

This Consumer Banking Fee Schedule is part of your Consumer Banking Services Agreement. It contains the monthly fees, transaction fees, minimum balance requirements, and other fees that may apply to your consumer account at Salem Five.

NOTICE FOR PERSONS 65 YEARS OF AGE OR OLDER OR 18 YEARS OF AGE OR YOUNGER:  You will be entitled to one savings account and one 18-65 checking account free of specific service charges upon notification to the Bank and presentation of proof of age. To qualify, you must be the sole or primary (first listed) owner on the account. Star Checking, Gold Star Checking, President’s Club Checking, Money Market accounts and all business accounts are excluded. The following fees apply to eligible accounts: A $5.00 fee will apply for checks or other debits returned by the Bank for insufficient or uncollected funds. Check printing fees will be waived for basic checks only. Online Banking with Bill Pay is free. Banking Through Quicken® is available for $7.50/month. Contact us for more information.

NOTICE FOR PERSONS RECEIVING SSA OR SSI BENEFITS: If you have your monthly SSA or SSI benefits directly deposited to a Star Checking Account, the Bank will not assess a monthly maintenance fee. If notified by qualified accountholders, the Bank will not assess a monthly maintenance fee on your savings account which receives SSA or SSI benefits.

¹ If you initiate a transaction at an ATM not operated by Salem Five, a surcharge may be applied by that operator and/or by an automated transfer network. For Gold Star Checking and On the Job Star Checking ATM surcharges will be reimbursed each statement cycle. For the eChecking, ATM surcharges will be reimbursed up to $10.00 per statement cycle. For the eOne Checking, Smart Student Checking and Star Checking, ATM charges will be reimbursed up to $15.00 per statement cycle.

² Only consumer accounts qualify. Mortgage balances are excluded. Combined balances will be calculated based on the balance of your deposit accounts and the outstanding balance of your loan accounts as of the current statement cycle date of your Star Checking or Gold Star Checking account. This date can be found on the top right hand corner of page one of your monthly statements, under the heading “Statement Ending.”

³ This per item fee is imposed for overdrafts created by checks, in-person withdrawals, ATM withdrawals, and other electronic means (as applicable), whether the item is paid at our discretion or returned unpaid. For persons 65 years of age or older or 18 years of age or younger, a $5.00 fee will apply for checks or other debits returned by the Bank for insufficient or uncollected funds The first five (5) NSF items paid per day will be charged the fee as an NSF Paid Item Fee, whereas any NSF items returned unpaid will be charged an NSF Returned Item Fee. Should a transaction overdraw your account in the amount of $5.00 or less, your account will not be charged.

⁴ Or,as established from time to time by the Commissioner of Banks. If the item returned is drawn on an account held by the Salem Five accountholder at another bank, the fee assessed is $7.50.

⁵ Per statement, deposit slip or check (first 25 checks requested annually per account are free after which the per item charge applies).

⁶ The inactivity fee will be imposed on checking accounts if the average daily balance is below $250.00 and the account has been inactive for the preceding 12 months.

⁷ eOne Checking and eOne Savings customers will be charged if a transaction is conducted at a branch.

⁸ If your account requires eStatements, Salem Five may assess this fee if you fail to register for, or at any time you discontinue receiving eStatements.

⁹ Additional charges may be assessed by intermediary bank(s). These charges will be deducted from the check or wire transfer proceeds.

¹⁰ eOne Checking, eChecking, and eSavings customers will be reimbursed up to $20 per statement cycle.