CERTIFICATES OF DEPOSIT

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.

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.