Virginia Commerce Bank’s Premier Interest Checking is an account for government, non-profit industry associations and other non-profits. Monthly account activity is analyzed, with an earnings credit rate of 1.00% applied to offset fees. The balances in excess of the amount required to offset fees earn an interest rate of 1.00%, paid to the account at the end of each month. The earnings credit through account analysis is calculated as follows:

Average Ledger Balance is the average daily ending balance in the checking account after all deposits and checks have been posted. The daily balances are totaled for the month and divided by the number of calendar days in the month.		Balances maintained in your account are converted to an earnings credit allowance (at a 1.00% interest rate), which can be used to offset bank activity charges that are calculated from the amount of services rendered for the billing period. Additional account analysis calculations are determined as follows:
Average Uncollected Balance (or float) is the average amount of each day’s deposit that is in the process of collection.		Earnings on Available Balance is computed each month by multiplying the Bank’s monthly earnings credit rate by the average investable balance (or balance available for earnings credit).
Average Available Balance is the average ledger balance minus the average float.		Expenses for Services Analyzed is the sum of the analyzed services rendered, which can be offset with the earnings credit allowance. Analyzed services are calculated by multiplying the volume by the price per unit.
Reserve Requirement represents non-interest earning balances maintained by the bank to comply with Federal Reserve policy. Reserves are computed by applying the reserve rate (10.00%) to the average ledger balance.		Net Profit/Loss for Services Analyzed reflects the difference between earnings on investable balance and current analyzed services.
Average Investable Balance (or balance available for earnings credit) is calculated by subtracting the reserves from the average available balance.		Net Profit which is credited to the account at the end of the month equates to 1.00% interest rate on those balances over the required balances to offset fees.
		In the event of a net loss (fee result), fees will be charged to the account.

Contact a Cash Management representative today
for additional information: (571) 262-0878

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*Account descriptions and information presented are accurate as of revision date and are subject to change at any time without notice. Eligible entities only. 9/2/2010.