Certificates of Deposit (CDs)

Account Features
No Monthly Service Charge
Fixed Terms
Earns Interest

See Transaction Limitations and
Early Withdrawal Penalty below

Earns Interest
A fixed rate of interest is paid on the
available balance of this account.
Minimum balance may apply.

See Interest information below

Current Rates

Automatic Renewal
at Maturity

See Grace Period below

INTEREST

• Click for current rates.
  
  
• The rate in effect when you open or renew your CD is fixed for the term of the CD.
  
  
• Interest is compounded when credited to the CD.
  
  
• Interest will be credited to your account monthly.
  
  
• Interest can be:
  
  • Credited to your CD; or
  • Credited to your checking or savings account with the Bank.
    (Transferring or withdrawing interest will reduce your earnings.)
    
    
• We use the daily balance method to calculate the interest on your CD. This method applies your fixed interest rate to the principal in the account each day.

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TRANSACTION LIMITATIONS

• You may not make any deposits into your CD before maturity.
  
  
• Principal withdrawn before maturity is subject to an early withdrawal fee.
  
  
• You may withdraw interest credited before maturity without penalty.
  (Transferring or withdrawing interest will reduce your earnings.)

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GRACE PERIOD

• A grace period begins the day after maturity and lasts for:
  • One (1) calendar day for CDs with a term of 1 month or less,
  • Ten (10) calendar days for CDs with a term over 1 month.
    
    
• During the grace period, you may without a penalty:
  • Change the term,
  • Make additional deposits,
  • Withdraw funds,
  • Close the CD.
    
    
• If you withdraw funds during the grace period, we will not pay interest from the date of maturity to the date of withdrawal on the funds withdrawn.

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EARLY WITHDRAWAL PENALTY

• Withdrawals made before the maturity date are subject to an early withdrawal penalty:
  • For terms of 1-2 months, the penalty fee is equal to 1 month of interest on the amount withdrawn,
  • For terms of 3-12 months, the penalty fee is equal to 3 months of interest on the amount withdrawn,
  • For terms of 13-24 months, the penalty fee is equal to 6 months of interest on the amount withdrawn,
  • For terms of 25 months or more, the penalty fee is equal to 12 months of interest on the amount withdrawn.
    
    
• In certain circumstances, such as death or incompetence, the early withdrawal penalty fee may be waived.

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