Summer Pay Plan Savings is an interest-bearing savings account for faculty, school staff or any employee group using a shortened annual pay schedule. Summer pay Plan Savings allows you to set aside a portion of your salary in a separate savings account for use during the summer months when you're not receiving a paycheck.

Step 1: Open a Checking Account

With your GNO Direct Deposit Checking Account, you are ready to begin savings. With Direct Deposit, there will be NO Monthly Maintenance Fees! The portion you allocate to send to your Summer Pay Plan Savings will automatically be deposited in that account. The rest will be available in your checking account.

Step 2: Start Saving!

The minimum balance required to open your Summer Pay Plan Savings is $100. You must maintain a minimum daily balance of $100 each day to obtain the disclosed annual percentage yield. After that, you can put as little or as much as you like each paycheck in your account.

Once your account is established, you may make transfers or deposits to the Summer Pay Plan Savings throughout the year. On June 1st, your savings will automatically be transferred to your GNO Checking Account.

Here's How it Works:

• Using payroll deduction, funds are automatically deducted from your regular paycheck and deposited into your Summer Pay Plan Savings.
• The amount transferred may be decreased or increased during the school year with your Human Resource or Payroll Representative as your needs change.
• Additional transfers/deposits can be made at anytime through GNO's Home Banking, Communique' -- our audio response program and all other traditional methods.
• Transfers can begin with your 1st paycheck in August and continue until we are notified otherwise.
• All funds plus interest-earned will be transferred directly into your GNO Checking Account on June 1st.
• Whenever you wish to cancel your payroll deduction to GNO, you simply need to contact your Human Resource or Payroll Representation.
• Throughout your normal pay periods, there will be an early withdrawal fee of $10 if you choose to access your Summer Pay Plan before June 1st. It's just a little safeguard to protect your from accessing your heard-earned savings before summer.
• In order to determine how much money you will need for the summer months, consult a GNO representative for assistance.

GNO Direct Deposit Checking:

• NO Monthly Service Fee
• Free ATM card or VISA Check Card (Debit Card)
• Unlimited check writing
• Free ATM usage at Pulse, Plus & Capital One ATM Bank Locations nationwide
• "Courtesy Pay" after 3 months - saves you the cost of the merchant's NSF fee in the event of a bounced check
• Funds are federally insured to at least $250,000
• Easy access to your account with Online Banking, Communique' Telephone Teller & Mobile Banking
• View copies of your cleared checks for free with Online Banking

GNO will waive the monthly service fee on any GNO checking account if you have any of the following relationships with us:

• Direct Deposit of at least $400 monthly
• Minimum average daily balance of $500 or greater
• Combined balances in any other deposit account, including IRA's of at least $5,000
• Current non-mortgage loans with combined balance of at least $1,000
• Credit Card with a balance of at least $2,500
• First or second mortgage loan with a balance of at least $2,500