Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the rate chart. The interest rate and annual percentage yield will not change and will be in effect until the account matures. Interest begins to accrue on the business day you deposit noncash items (example: checks). Interest will be compounded annually on all Certificate of Deposits except for 6-month CDs. Interest will be credited to the account monthly, quarterly or annually as agreed to at account opening
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum daily balance of $1,000.00 to obtain the disclosed annual percentage yield.
Limitations: You must deposit $1,000.00 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.
Time Account Information: Your account will mature in the length of time selected at account opening. If you withdraw any of the principal before the maturity date, we may impose a penalty of one months interest on the amount withdrawn for deposits of less than 12 months and three months interest on the amount withdrawn for deposits of one year and greater than one year.