Thursday October 30, 2014
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Certificates of Deposit

Interest will be credited to your bank account or paid to you monthly, quarterly, semi-annually, annually, at maturity or as agreed upon.

The annual percentage yield (APY) assumes that interest remains on deposit until maturity. A withdrawal will reduce earnings.

After the account is opened, you may not make any deposits into or withdrawals from the principal in the account until the maturity date.

Interest begins to accrue on the day you deposit any noncash item (for example, checks).

Penalty for Early Withdrawal

You cannot redeem your Certificate before the maturity date without our approval. If we do allow you to redeem your Certificate early, Federal regulations require us to charge the following penalties:

  • If the Original Maturity is 32 Days to less than 1 year.
    • You will forfeit an amount at least equal to three months of interest on the funds withdrawn, regardless of the length of time the funds have actually remained on deposit. We will calculate the penalty at the simple interest rate we are paying on the Certificate.
  • If the Original Maturity is One Year or More:
    • You will forfeit an amount at least equal to six months of interest on the funds withdrawn, regardless of the length of time the funds have actually remained on deposit. We will calculate the penalty at the simple interest rate we are paying on the Certificate.
      If we allow you to redeem your Certificate early, you may lose a portion of the principal amount of your deposit if that is necessary to comply with the penalties described above. Also, if you have already received interest on your Certificate and we allow you to redeem it early, we will deduct the interest you have received from the amount we redeem, if that is necessary to comply with the above penalties.
      However, upon your death, or in the event that you are judicially determined to be legally incompetent, we will, upon request, allow the Certificate to be redeemed without penalty.

Renewal Policy

If your Certificate is SINGLE MATURITY and does not automatically renew, Present it PROMPTLY at maturity as no interest is payable after the maturity date.

If your Certificate will AUTOMATICALLY RENEW, you will have a grace period of 10 days from maturity date to present this certificate for payment without penalty. If the certificate automatically renews, IT WILL BE RENEWED AT THE RATE IN EFFECT AT THIS INSTITUTION ON THE DATE OF MATURITY.

Method of Computation - Daily Balance*

*The Daily Balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

Account Type Min. Deposit to Open Account Min. Balance to Obtain APY Interest Rate Compounded Annual Yield %
90 Day CD $1,000.00 $1,000.00 Call Us
At Maturity Call Us
6 Month CD $1,000.00 $1,000.00 Call Us Quarterly Call Us
6 Month CD $1,000.00 $1,000.00 Call Us At Maturity Call Us
           
1 Year CD $1,000.00 $1,000.00 Call Us Quarterly Call Us
1 Year CD $1,000.00 $1,000.00 Call Us Semi-Annually Call Us
           
2 1/2 Year CD $1,000.00 $1,000.00 Call Us Quarterly Call Us
2 1/2 Year CD $1,000.00 $1,000.00 Call Us Semi-Annually Call Us
           
5 Year CD $1,000.00 $1,000.00 Call Us Quarterly Call Us
5 Year CD $1,000.00 $1,000.00 Call Us Semi-Annually Call Us
           

 MEMBER  FDIC

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