Associations Services


Association Checking Account

  • $100 minimum opening deposit
  • Depending on the account’s average collected balance, this account may be maintained without incurring monthly service charges. Normal service charges may be offset, or reduced, if the earnings credit is greater than the service charge.
  • Earnings credit calculation: average monthly balance - average float = average collected balance - average investable balance x earnings credit rate tied to the 91-day Tbill/12


THE EARNINGS CREDIT WILL BE USED TO OFFSET ACTIVITY SERVICE CHARGES AS FOLLOWS: 

  • If earnings credit exceeds activity service charges, no service charges are assessed. However, customer will not be paid, allowed to carry forward or otherwise receive credit for any excess earnings credit.
  • If activity service charges exceed the earnings credit, only the net difference is assessed as a service charge. Monthly activity charges are as follows:
  • A monthly maintenance fee of $14
  • A fee of 15¢ for each check paid
  • A fee of 35¢ for each deposit
  • A fee of 10¢ for each item deposited
  • A factor based on FDIC charges times the average monthly collected balance for FDIC assessments.
  • Accounts with a negative average monthly collected balance are charged a rate of 2 percentage points over the prime rate as quoted in the Wall Street Journal, times the negative average monthly collected balance in the account.


Association Money Market Account

  • $5,000 minimum opening deposit
  • This is an interest-bearing account that earns Business Money Market Account rates as set periodically by Regent Bank when the average collected balance is $5,000 or more. Earns Business Interest-On-Checking rate when balance falls below $5,000.
  • Interest is compounded daily and credited to your account monthly based on the average collected balance, minus required reserves.***
  • Withdrawals and transfers from the account may be made as follows:
  • Unlimited number of withdrawals or transfers by mail, messenger or in person.
  • Unlimited number of transfers for the purpose of repaying loans (excluding overdrafts) extended by Regent Bank.
  • All other withdrawals and transfers are limited to a maximum of 6 per month of which up to 3 may be by check. There is a $7 charge for each check paid beyond the regulators’ limit of 3.
  • No service charge on accounts with an average daily balance of $2,500 or more.
  • For accounts not meeting the balance requirement, the account maintenance fee is $14 per monthly statement cycle, plus 25¢ per deposit and per item deposited.


Association Premium Money Market Account

  • $20,000 minimum opening deposit
  • This is an interest-bearing account that earns Business Premium Money Market Account rate as set periodically by Regent Bank when the average collected balance is $20,000 or more. Earns Business Money Market rate when balance falls below $20,000. Earns Business Interest-On-Checking rate when balance falls below $5,000.
  • Interest is compounded daily and credited to your account monthly based on the average collected balance, minus required reserves.***
  • Withdrawals and transfers from the account may be made as follows:
  • Unlimited number of withdrawals or transfers by mail, messenger or in person.
  • Unlimited number of transfers for the purpose of repaying loans (excluding overdrafts) extended by Regent Bank.
  • All other withdrawals and transfers are limited to a maximum of 6 per month of which up to 3 may be by check. There is a $7 charge for each check paid beyond the regulators’ limit of 3.
  • No service charge on accounts with an average daily balance of $2,500 or more.
  • For accounts not meeting the balance requirement, the account maintenance fee is $14 per monthly statement cycle, plus 25¢ per deposit and per item deposited.


Association Super Premium Money Market Account

  • $100,000 minimum opening deposit
  • This is an interest-bearing account that earns Business Super Premium Money Market Account rate as set periodically by Regent Bank when the average collected balance is $100,000 or more. Earns BusinessPremium Money Market rate when balance falls below $100,000. Earns Business Money Market rate when balance falls below $20,000. Earns Business Interest-On-Checking rate when balance falls below $5,000.
  • Interest is compounded daily and credited to your account monthly based on the average collected balance, minus required reserves.***
  • Withdrawals and transfers from the account may be made as follows:
  • Unlimited number of withdrawals or transfers by mail, messenger or in person.
  • Unlimited number of transfers for the purpose of repaying loans (excluding overdrafts) extended by Regent Bank.
  • All other withdrawals and transfers are limited to a maximum of 6 per month of which up to 3 may be by check. There is a $7 charge for each check paid beyond the regulators’ limit of 3.
  • No service charge on accounts with an average daily balance of $2,500 or more.
  • For accounts not meeting the balance requirement, the account maintenance fee is $14 per monthly statement cycle, plus 25¢ per deposit and per item deposited.


Association Gold Money Market Account

  • $250,000 minimum opening deposit
  • This is an interest-bearing account that earns Business Gold Money Market Rate as set periodically by Regent Bank when the average collected balance is $250,000 or more. Earns Business Super Premium Money Market Account rate when the average collected balance falls below $250,000. Earns Business Premium Money Market rate when balance falls below $100,000. Earns Business Money Market rate when balance falls below $20,000. Earns Business Interest-On-Checking rate when balance falls below $5,000.
  • Interest is compounded daily and credited to your account monthly based on the average collected balance, minus required reserves.***
  • Withdrawals and transfers from the account may be made as follows:
  • Unlimited number of withdrawals or transfers by mail, messenger or in person.
  • Unlimited number of transfers for the purpose of repaying loans (excluding overdrafts) extended by Regent Bank.
  • All other withdrawals and transfers are limited to a maximum of 6 per month of which up to 3 may be by check. There is a $7 charge for each check paid beyond the regulators’ limit of 3.
  • No service charge on accounts with an average daily balance of $2,500 or more.
  • For accounts not meeting the balance requirement, the account maintenance fee is $14 per monthly statement cycle, plus 25c per deposit and per item deposited.

   
Certificates of Deposit 

Regent Bank offers a variety of CDs with competitive rates.  Please contact a Regent Bank representative for terms and rates.

 

CDARS

Looking for a way to keep large deposits safe? Ask us about CDARS®. It’s a great solution for:  businesses * nonprofit organizations * public funds managers * trustees * financial advisors * individuals * credit unions * IRAs.

With CDARS, you can access FDIC protection on multi-million dollar CD investments through Regent Bank. There are few guarantees in life – FDIC insurance is one of them. CDARS can be a valuable cash management or longer-term investment tool for you. You will work with your local Regent Bank representative to secure large deposits from $10,000 to $50,000,000.



* Daily Balance - Applies a daily periodic rate to the principal in the account each day.
** Average Daily Balance - Applies a periodic rate to the average daily balance in the account for that period. The average daily balance is calculated by adding the principal in the account each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
*** If account is closed before interest is credited, accrued interest will be paid to the account holder.