Certificates of Deposit are available with terms from:
- Ninety One (91) days to Five (5) Years
- Minimum initial deposit is $1000 for all time deposits.
We use the daily balance method to calculate interest on your account. This method applies a periodic rate to the daily balance in the account for the period. We will use an interest accrual basis of 365 (or 366 in leap year) for each day of the year. Interest will be compounded daily and credited at maturity.
The Customer will choose the Term as well as how and when the interest is paid upon deposit, as long as they fall into the general guidelines of the Bank concerning that particular type of Certificate of Deposit..
There is no service charge on a Certificate of Deposit, however if you may incur a service charge for early withdrawal of any funds.
For Certificates of Deposit that renew automatically a 10 day grace period is allowed for the customer to make withdrawals without a penalty.
We are here to help!
Have questions? Stop in or call us today, and let us help you save for your tomorrow.
Important information about procedures for opening a new account:
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.Text here…