CDs & IRAs

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 account.

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 begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

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account has an original maturity of one year or less - The fee we may impose will equal 30 days interest on the amount withdrawn subject to penalty; if your account has an original maturity of more than one year - the fee we may impose will equal 90 days interest on the amount withdrawn subject to penalty.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 maturity.

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Individual Retirement Accounts

IRA Questions:

Am I eligible to Have an IRA?
If you're under age 701/2 for the entire tax year and have compensation, you are eligible to establish an IRA, even if you already participate in any type of government plan, tax sheltered annuity, simplified employee pension (SEP) plan, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) or qualified plan (pension or profit sharing) established by an employer.

What is compensation?
Compensation is the salary or wages you receive as an employee. If you are self-employed, compensation is your net income for the personal services performed for the for the business. All taxable alimony is considered compensation, Interest, dividends, and most rental income is passive income and is not considered compensation.

How much Can I contribute to my IRA?
You may contribute any amount up to 100 percent of your compensation or $3,000, whichever is less, to a traditional IRA (or to both a traditional and a Roth IRA).

Do I Pay Taxes on the Earnings of My IRA?
All earnings on your IRA contributions (deductible and/or nondeductible) remain tax deferred until you make withdrawals from the account.

Do I Get a Tax Deduction for My Contribution?
Deductibility of your contribution is based on whether or not you or your spouse are an active participant in an employer-maintained retirement plan. If you are single and not an active participant, you are eligible for a full $3,000 deduction no matter how large your income. If you are not an active participant but your spouse is, you are still eligible for a full deduction if you file jointly and your combined modified adjusted gross income (MAGI) is below $150,000 or a partial deduction if your joint MAGI is between $150,000 and $160,000. If you are an active participant, the deductible amount is dependent your MAGI and income tax filing status. You may be eligible for maximum deduction, a partial deduction, or no deduction.

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TRADITIONAL IRA CERTIFICATE OF DEPOSIT

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 account.

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 begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

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. The maximum amount you can deposit is $3,000.00 annually combined with other IRA contributions.

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 maturity. The minimum term for IRA Certificates is 12 months. See your IRA instructions, application, custodial account agreement and disclosure statement for futher information about your IRA.

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COVERDELL EDUCATION SAVINGS IRA

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 $100.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $100.00 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 begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations: You may make no more than 20 deposits of $100.00 each into your account before maturity. The maximum amount you can deposit is $2,000.00 annually. You may make deposits until 7 days before the final maturity date. You may make withdrawals of principal from your 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 maturity. The minimum term for Education IRA’s is 12 months. See your Education IRA instructions, application, custodial account agreement and disclosure statement for further information.

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ROTH IRA

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 $500.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $500.00 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 begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations: You may make no more than 6 deposits of $500.00 each into your account before maturity. The maximum amount you can deposit is $3,000.00 annually combined with other IRA contributions. You may make deposits until 7 days before the final maturity date. You may make withdrawals of principal from your 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 maturity. The minimum term for Roth IRA’s is 12 months. See your Roth IRA instructions, application, custodial account agreement and disclosure statement for further information.

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