Effective 7/1, the SOAR program has been edited to include the following changes:
New Checking MMDA accounts must be for new deposit money coming in to the bank. Funds transferred from another account will not qualify for SOAR payouts.
New business checking accounts <$25k, must have a $5,000 minimum to be eligible for SOAR payouts.
Please remember to always input comments into the SOAR form along with account numbers in the account # field for any checking or loan product.
The new chart is loaded to Sharepoint for your review.
