Certificates of Deposit
CD Truth In Savings Information
Rate Information - Click
here for rates boards. You will be paid this rate until first maturity.
Compounding frequency - Interest will be compounded every quarter.
Crediting frequency - Interest will be credited to your account every quarter.
Minimum balance to open the account - You must deposit $1,000.00 to open this
Minimum balance to obtain the annual percentage yield disclosed - You must
maintain a minimum balance of $1,000.00 in the account each day to obtain
the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate
the interest on your account. This method applies a daily periodic rate to
the principal in the account each day.
Accrual of interest on noncash deposits - Interest will begin to
accrue on the business day you deposit noncash items (for example, checks)
into your account.
Transaction limitations: You may not make any deposits into your account
before maturity. You may make withdrawals of principal from you account before
maturity only if we agree at the time you request the withdrawal. You can
only withdraw interest credited in the term before maturity of that term without
penalty. You can withdraw interest any time during the term of crediting after
it is credited to your account.
Time requirements - Early withdrawal penalties:
(a penalty may be imposed for withdrawals before maturity) if your
account has an original maturity of one year or less - The fee we may
impose will equal 30 days interest on the amount withdrawn subject to
penalty; if your account has an original maturity of more than one year -
the fee we may impose will equal 90 days interest on the amount withdrawn
subject to penalty. In certain circumstances such as the death of
incompetence of an owner of this account, the law permits, or in some
cases requires, the waiver of the early withdrawal penalty. See your plan
disclosure if this account is part of an IRA or other tax qualified plan.
Withdrawal of interest prior to maturity - The annual percentage yield
assumes interest will remain on deposit until maturity. A withdrawal will
reduce earnings. Automatically renewable time account - This account will
automatically renew at maturity. You may prevent renewal if you withdraw
the funds in the account at maturity (or within any grace period mentioned
below) or we receive written notice from you within any grace period
mentioned below. We can prevent renewal if we mail notice to you at least
30 calendar days before maturity. If either you or we prevent renewal,
interest will not accrue after final maturity. Each renewal term will be
the same as the original term, beginning on the maturity date. The
interest rate will be the same we offer on new time deposits on the
maturity date which have the same term, minimum balance (if any) and other
features as the original time deposit. You will have ten calendar days
after maturity to withdraw the funds without a penalty. Non-automatically
renewable time account - This account will not automatically renew at
maturity. If you do not renew the account, interest will not accrue after
Business Application Complete and bring in
to open the account.
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