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Personal
Accounts - CDs
| Certificate
of Deposit - Consumer |
|
Maturity |
Compounding
Method |
Initial
Deposit |
| 30
Days |
Daily |
500.00 |
| 90
Days |
Daily |
500.00 |
| 182
Days |
Daily |
500.00 |
| 12
Months |
Daily |
500.00 |
| 24
Months |
Daily |
500.00 |
| 36
Months |
Daily |
500.00 |
| 60
Months |
Daily |
500.00 |
|
Interest rates are determined weekly at Banks discretion. You will be paid this rate until maturity.
Maturity Conditions – Automatically renewable CDs: Unless withdrawn within the 10-day grace period after the maturity date, your deposit will be renewed automatically for a period of time equal to the initial maturity period, and thereafter for additional successive like periods of time. Withdrawals made during the grace period are not subject to early withdrawal penalties. The interest rate will be that which is applicable to deposits maintained by the Bank of like maturity and amount at the time of such renewal, or as disclosed to you by prior written notice. Interest earned during any preceding period, but not paid to you, becomes part of principal and is subject to a penalty for early withdrawal during the renewal terms. Automatically renewable CDs that are redeemed during the 10-day grace period following maturity earn no interest after the maturity date.
Interest is
calculated on daily ledger balance and can be credited as frequently
as monthly, quarterly, semi-annually, annually, or
at maturity.
Penalty
for Early Withdrawal – If you withdraw any of the principal before
stated maturity date, we may impose a interest penalty of:
| Terms: |
Penalty: |
| 30
- 89 Days |
30
Days |
| 90
- 179 Days |
90
Days |
| 180
- 364 Days |
182
Days |
| 12
- 23 Months |
9
Months |
| 24
- 35 Months |
12
Months |
| 36
- 120 Months |
24
Months |
|
Early withdrawal penalties may result in a reduction of principal.
Annual
percentage yield is based upon the maximum term of deposit
for each maturity range. The annual percentage yield assumes interest
will remain on deposit until maturity. A withdrawal will reduce
earnings.
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| Individual
Retirement Accounts |
|
Maturity |
Compounding
Method |
Initial
Deposit |
| 12
Month |
Daily |
500.00 |
| 24
Month |
Daily |
500.00 |
| 36
Month |
Daily |
500.00 |
| 60
Month |
Daily |
500.00 |
|
$25.00 minimum additional deposit accepted.
Interest rates are determined weekly at Banks discretion. You will be paid this rate until maturity.
Interest is calculated on daily ledger balance, compounded daily and credited annually and at maturity.
Maturity Conditions – Automatically renewable CDs: Unless withdrawn within the 10-day grace period after the maturity date, your deposit will be renewed automatically for a period of time equal to the initial maturity period, and thereafter for additional successive like periods of time. Withdrawals made during the grace period are not subject to early withdrawal penalties. The interest rate will be that which is applicable to deposits maintained by the Bank of like maturity and amount at the time of such renewal, or as disclosed to you by prior written notice. Interest earned during any preceding period, but not paid to you, becomes part of principal and is subject to a penalty for early withdrawal during the renewal terms. Automatically renewable CDs that are redeemed during the 10-day grace period following maturity earn no interest after the maturity date.
Penalty for Early Withdrawal under age 59 ½ – If you
withdraw any of the principal or interest before stated maturity
date, we may impose a interest penalty of:
| Terms: |
Penalty: |
| 30
- 89 Days |
30
Days |
| 90
- 179 Days |
90
Days |
| 180
- 364 Days |
182
Days |
| 12
- 23 Months |
9
Months |
| 24
- 35 Months |
12
Months |
| 36
- 120 Months |
24
Months |
|
Early withdrawal penalties may result in a reduction of principal.
Annual percentage yield is based upon the maximum term
of deposit for each maturity range. The annual percentage
yield assumes interest will remain on deposit until maturity.
A withdrawal will reduce earnings.
Annual statements provided.
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| Individual Retirement Accounts
- Savings Account |
$25.00 Initial deposit
The interest rate and annual percentage yield may change. At our
discretion, we may change the interest rate on the account daily.
Variable
interest will be calculated using the simple method based
on the daily collected balance and credited quarterly
You must maintain the minimum balance each day to obtain the
disclosed annual percentage yield.
Annual statements provide. |
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