Cash Reserve is an overdraft protection for Community Financial Services Bank checking accounts via pre-approved loan advances. Advances cannot exceed pre-approved limits. Required monthly payment of principle and interest are deducted from the checking account. The minimum required monthly payment is 2% of the total outstanding cash reserve advances or $20, whichever is greater. A finance charge is assessed on all outstanding cash reserve advances at an Annual Percentage Rate (APR) of 21.00%. The annual fee is $35.
Sweep Account: sweep agreements offer peace of mind with checking overdraft protection. Transfers may be made from a Community Financial Services Bank checking or savings account. A fee of $5.00 for checking or savings will be charged for each transfer, and the agreement must be on file prior to the overdraft.*
*For fee schedule call (270) 527-4600 or 1-888-226-5669.