Certificate of Deposit

• The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. This account will automatically renew at maturity. You will have ten (10) calendar days after the maturity date to withdraw funds without being charged a penalty. On the maturity date, your CD will be renewed at the interest rate and annual percentage yield in effect on the maturity date.
• If the original term of your certificate was 12 months or less, you will be charged an early withdrawal penalty of 3 months interest if you redeem your certificate prior to maturity.
• If the original term of your certificate was in excess of 12 months, you will be charged an early withdrawal penalty of 6 months interest if you redeem your certificate prior to maturity.
• Interest will be compounded quarterly on all certificates except the 91 day and 182 day certificates on which interest will be paid at maturity.
• Interest begins to accrue on the business day you deposit cash or non-cash items (for example, checks).  After the certificate of deposit account is opened, you may not make deposits into this account.
• We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• If you withdraw funds during the ten days after the maturity date, you will not receive the accrued interest since the maturity date.