Certificate of Deposit

A certificate of deposit (CD) guarantees a competitive interest rate for periods from 91 days to 48 months: for as long or as short a period as you like. This way you can match the maturity date with your future cash needs.

    $ 500.00 Minimum to open.

  • The interest rate for your account will be paid until the maturity date of your certificate.
  • The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • This account will automatically renew at maturity. You will have ten (10) calendar days after the maturity date, to withdraw funds without being charged a penalty. If you withdraw the funds during the ten days after the maturity date, you will not receive the accrued interest since the maturity date.
  • If the original term of your certificate is 12 months or less, you will be charged an early withdrawal penalty of 3 months interest if you redeem your certificate prior to maturity.
  • If the original term of your certificate was more than 12 months, you will be charged an early withdrawal penalty of 6 months interest if you redeem your certificate prior to maturity.
  • Interest will be compounded quarterly on all certificates except the 182 day certificate on which interest will be compounded semi-annually.
  • Interest will be credited to your account quarterly on all certificates except the 182 day certificate on which interest will be compounded semi-annually. You may receive interest by check if requested when opening the account.
  • Interest begins to accrue on the business day you deposit cash or non-cash items (for example, checks).
  • After the account is opened, you may not make deposits into this account until the maturity date.
  • We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  • Fees could reduce earnings.
 
 
Last updated on May 21, 2018

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