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Certificates of Deposit
Rate Information This is a VARIABLE RATE account. Contact us about the current interest rate and annual percentage yield for this account. Your interest rate and annual percentage yield may change. We may change the interest rate at any time without limitation. Compounding and crediting of interest Interest will be compounded and credited to your account at the end of each statement cycle. If you close your account before interest is credited, you will not receive the accrued interest. Minimum balance requirement Your account has a minimum amount to open of $200. If the minimum daily balance during any statement period falls below $200, then an account maintenance fee of $3 will be imposed for that statement period. You must maintain an average daily balance equal to the minimum amount required to open the account to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Balance computation method We use the daily balance computation method to calculate interest on your account. This method applies a daily periodic rate to the principal in that account each day. If the daily balance of your account is less than $200, we will not calculate interest for that day. Accrual of interest on noncash deposits Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (e.g., checks). Transaction limitations After the account is opened, you may make deposits at any time, but you may not make more than two (2) withdrawals each statement period. Notice of withdrawal Federal regulation states that we must reserve the right to require at least seven days written notice prior to withdrawal or transfer of any funds from this account. We foresee no reason to ever require such notice, but we must follow federal regulations and reserve such right. Fees and other disclosures A fee of $5.00 will be assessed for each withdrawal over two, each statement period. See the brochure(s) supplied with this disclosure for other fees and disclosures.
Rate Information This is a VARIABLE RATE account. Contact us about the current interest rate and annual percentage yield for this account. Your interest rate and annual percentage yield may change. We may change the interest rate for your account at any time without limitation. The account automatically renews each seven days. Compounding and crediting of interest Interest will be compounded and credited to your account every seven days. If you close your account before interest is credited, you will not receive the accrued interest, or if you make a withdrawal of less than the full amount of the account, you will not receive the accrued interest on the amount withdrawn. Minimum balance requirement Your account has a minimum amount to open of $1,000. You must maintain an average daily balance of $1,000 to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the day period and dividing that figure by the number of days in the period. Balance computation method We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in that account each day. If the daily balance of you account is less than $1,000, we will not calculate interest for that day. Accrual of interest on noncash deposits Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (e.g., checks). Transaction limitations After the account is opened, you may make deposits at any time, but you may not make withdrawals from the account until the maturity date. Early withdrawal penalty If you withdraw any of the deposited funds before the maturity date, a penalty of $5.00 will be charged to your account. Renewal policy This account will be automatically renewed at maturity. You have a grace period of two business days (including the maturity date and and any holidays, but excluding Saturday and Sunday) to withdraw the funds without being charged a penalty.
Rate Information This is a FIXED RATE account. Contact us about the current interest rate and annual percentage yield for this account. You will be paid this rate until the maturity date of the account. Compounding of interest Interest will be compounded daily for this account. Crediting of interest On accounts of less than $2,500, interest will be paid quarterly or annually, or at maturity, as you direct. On accounts $2,500 or more, interest will be paid monthly, quarterly or annually or maturity, as you direct. Minimum Balance requirement Your account has a minimum amount to open of $500. You must maintain an average daily balance of $500 to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. You may withdraw interest earned during a term without penalty, but if it is not withdrawn, it will be added to the principal for the renewed term. In order for you to obtain the disclosed annual percentage yield, you must not withdraw compounded interest before maturity. Balance computation method We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in that account each day. Accrual of interest on noncash deposits Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (e.g., checks). Transaction limitations After the account is opened, you may make no deposits to nor may you make withdrawals from the account (except for interest earned during a term) until the maturity date, without being charged the penalty described below. Early withdrawal penalty If you withdraw any of the deposited funds before the maturity date, a penalty will be imposed. For certificates having a maturity of one year or less, the penalty will be 30 days interest, and for certificates over one year, the penalty will be 90 days interest. The penalty will be deducted after interest has been credited to the date of withdrawal. Renewal policy This account will be automatically renewed at maturity. You have a grace period of 10 days after the maturity date to withdraw the funds without being charged a penalty. Loans | Security | Privacy Policy | Back to Home All rights reserved. |