Certificates of Deposit (CD)
Earn a higher interest rate with our CD options. When your term is up, choose to automatically renew at a new rate, add to the balance, change the term or withdraw the funds.
FEATURES
- Terms from 3 months to 5 years
- Interest earned may be withdrawn at any time, transferred to another account or mailed directly to you
- Renewal notice will be mailed prior to CD maturity
- $1,000 minimum deposit to open
Substantial penalty for early withdrawal.
RATES
Effective Date: [[effective-date]]
| Program | Minimum to Open | Term | Interest Rate | Annual Percentage Yield (APY)%* |
|---|---|---|---|---|
| Certificate of Deposit | $1,000 | 7 days1 | 0.20% | 0.20% |
| $1,000 | 3 months** | 0.05% | 0.05% | |
| $1,000 | 6 months** | 0.10% | 0.10% | |
| $1,000 | SPECIAL 7 months*** | 4.65% | 4.75% | |
| $1,000 | SPECIAL 7 month Bump Up*** | 4.89% | 5.00% | |
| $1,000 | 9 months** | 0.15% | 0.15% | |
| $1,000 | SPECIAL 11 months**** | 4.75% | 4.85% | |
| $1,000 | SPECIAL 11 month Bump Up**** | 5.00% | 5.12% | |
| $1,000 | 12 months** | 0.20% | 0.20% | |
| $1,000 | 15 months** | 0.25% | 0.25% | |
| $1,000 | 18 months** | 0.30% | 0.30% | |
| $1,000 | 24 months** | 0.35% | 0.35% | |
| $1,000 | 36 months** | 0.40% | 0.40% | |
| $1,000 | 48 months** | 0.45% | 0.45% | |
| $1,000 | 60 months** | 0.50% | 0.50% |
Some CD rates are also available for Individual Retirement Account (IRAs) with a minimum balance of $1,000.00. IRAs are NOT available through online account opening. IRAs are NOT available for a term of less than 6 months.
*Interest is compounded monthly. Annual percentage yield (APY) assumes principal and interest remain on deposit for one year. Minimum opening deposit is $1,000. Minimum daily balance to earn stated APY is $.01. Rates offered are subject to change without notice.
1 Interest rates at time of maturity set based on prevailing financial conditions. Rates offered are subject to change without notice. Minimum daily balance to earn the annual percentage yield (APY) is $.01. Will automatically renew every 7 days for an additional 7 days at the rate then available. Substantial penalty for early withdrawal. Interest is paid at maturity, no monthly compounding occurs.
The Federal Deposit Insurance Corporation (FDIC) insures deposits of up to $250,000. All portions of deposits in excess of $250,000 are insured by the Depositors Insurance Fund (DIF).
**Interest rates at time of maturity set based on prevailing financial conditions. Substantial penalty on certificates should the Bank consent to early withdrawal of principal. Rates offered are subject to change without notice.
***7-Month CD
- 5.00% Annual Percentage Yield (APY) – Promotional offer is available to existing customers with an existing checking account. For new customers, both accounts, checking and CD, must be opened at the same time to unlock bump up rate of 5.00% APY.
- 4.75% Annual Percentage Yield (APY) – Promotional offer is available to new or existing customers without a checking account.
- Minimum CD opening deposit is $1,000. Automatically renews at maturity for 6 months at the then current CD rate and term. Minimum balance to obtain APY is $0.01. Substantial penalty for early withdrawal. Available for IRAs and business customers.
****11-Month CD
- 5.12% Annual Percentage Yield (APY) – Promotional offer is available to existing customers with an existing checking account. For new customers, both accounts, checking and CD, must be opened at the same time to unlock bump up rate of 5.12% APY.
- 4.85% Annual Percentage Yield (APY) – Promotional offer is available to new or existing customers without a checking account.
- Minimum CD opening deposit is $1,000. Automatically renews at maturity for 12 months at the then current CD rate and term. Minimum balance to obtain APY is $0.01. Substantial penalty for early withdrawal. Available for IRAs and business customers.
The 7-Day CD
This CD option allows you to invest your money for seven days instead of a longer term. This gives you the flexibility to make deposits and withdrawals weekly, if necessary.
FEATURES
- Every seven days you can: make deposits, make withdrawals,* or simply let it roll over for another seven days
- $1,000 minimum deposit to open
*Substantial penalty for early withdrawal.
RATES
Effective Date: [[effective-date]]
| Minimum to Open | Interest Rate | Annual Percentage Yield (APY)%* |
|---|---|---|
| $1,000 | 0.20% | 0.20% |
Some CD rates are also available for Individual Retirement Account (IRAs) with a minimum balance of $1,000.00. IRAs are NOT available through online account opening. IRAs are NOT available for a term of less than 6 months.
* Interest rates at time of maturity set based on prevailing financial conditions. Rates offered are subject to change without notice. Minimum daily balance to earn the annual percentage yield (APY) is $.01. Will automatically renew every 7 days for an additional 7 days at the rate then available. Substantial penalty for early withdrawal. Interest is paid at maturity, no monthly compounding occurs.
The Federal Deposit Insurance Corporation (FDIC) insures deposits of up to $250,000. All portions of deposits in excess of $250,000 are insured by the Depositors Insurance Fund (DIF).
Traditional IRA
Save for retirement while taking advantage of tax benefits and earning a better return on your money. Contribute pre-tax income to the account and defer taxes on your earnings until you begin withdrawing funds during retirement. Save up to the IRS contribution limit each year and, if you’re age 50 or older, you can contribute an extra $1,000 each year!*
FEATURES
- Terms from 6 months to 5 years**
- Interest earned is tax deferred until withdrawn***
- Annual contributions may be tax deductible*
- Contributions from earned income may be made at any age*
- Distributions must begin the year you attain age 73
*Certain restrictions may apply. Consult your tax advisor. IRAs are not eligible for online account opening. IRA Certificates of Deposit are not available for terms of less than six months.
**Some CD rates are also available for Individual Retirement Accounts (IRAs) with a minimum balance of $1,000.00. IRAs are NOT available through online account opening. IRAs are NOT available for a term of less than 6 months.
***Substantial penalty for early withdrawal.
Roth IRA
Interest earnings on Roth IRA contributions are tax-deferred and may be withdrawn tax-free if the IRA owner meets requirements. Save up to the IRS contribution limit each year and, if you’re age 50 or older, you can contribute an extra $1,000 each year!* Plus, contributions may even be made if you are currently enrolled in a qualified employee pension plan.*
FEATURES
- Terms from 6 months to 5 years**
- Contributions from earned income may be made at any age*
- Annual contributions are not tax deductible
- Distributions are tax- and penalty-free once you’ve reached age 59 1/2 and have been in the plan for at least 5 years***
*Certain restrictions may apply. Consult your tax advisor. IRAs are not eligible for online account opening. IRA Certificates of Deposit are not available for terms of less than six months.
**Some CD rates are also available for Individual Retirement Accounts (IRAs) with a minimum balance of $1,000.00. IRAs are NOT available through online account opening. IRAs are NOT available for a term of less than 6 months.
***Substantial penalty for early withdrawal.
