IRA-12 Month Certificate of Deposit

Traditional & Roth Individual Retirement Accounts

Truth in Savings Disclosure

  • The interest rate on your account will be paid until the maturity date of the certificate of deposit.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • Interest will be compounded and credited to your account quarterly.  If you close your account prior to the maturity you will not receive the accrued but un-credited interest.
  • The annual percentage yield assumes interest will remain on deopsit until maturity. If you close you account or make a withdrawal prior to maturity, a three month payment penalty may be applied. A withdrawal will reduce earning(s).
  • This account will automatically renew at maturity.  You will have ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty.
  • 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.
  • Additional deposits/contributions may be made to your IRA.
Last updated on May 09, 2020

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