Certificates Of Deposit

Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect until the first maturity. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will be compounded daily and will be credited at maturity. We will mail the interest in a check to you or deposit the interest in an account that you designate. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance  in the account each day to obtain the disclosed annual percentage yield.

Limitations: You must deposit a minimum amount to open this account. You may not make additional deposits into this account. You may not make withdrawals from your account until the maturity date.

Account Fees: Your account will mature at the end of the term specified. If you withdraw any of the principal before the maturity date, we will impose a penalty of ninety (90) days interest on the principal balance in the account. If the account is closed before interest is credited, you will receive the accrued interest. This account will automatically renew. You will have 10 days after the maturity date to withdraw funds without penalty.