CDs & IRAs

Certificates of Deposit

  • Minimum balance to open a Certificate of Deposit – $500.00.
  • Interest can be compounded or credited to your checking or savings account.
  • There will be a penalty for early withdrawal.
  • 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.
  • You cannot withdraw principal from this account without our consent except on or after maturity.
  • If we consent to a request for a withdrawal that is otherwise not permitted you may have to pay a penalty.
  • In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
  • See the actual Certificate of Deposit for additional terms and disclosures.
  • Contact the bank for the current rates on Certificates of Deposit.

 

Individual Retirement Accounts (IRA)

  • Minimum balance to open a Certificate of Deposit – $500.00.
  • 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.
  • Interest will be compounded to your IRA account.
  • You cannot withdraw principal from this account without our consent except on or after maturity.
  • If we consent to a request for a withdrawal that is otherwise not permitted you may have to pay a penalty.
  • In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
  • See the actual IRA Certificate of Deposit for additional terms and disclosures.
  • Contact the bank for the current rates on our IRA Certificate of Deposits.