Minimum balance required to open Certificate of Deposit accounts (CDs) is $1,000. Minimum balance required to open IRA accounts is $100.

Interest begins to accrue on the business day you deposit any non-cash items (for example, checks).

We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the principal in the Account each day.

The annual percentage yield assumes interest remains on deposit until maturity.  A withdrawal will reduce earnings.

The interest for CDs with maturities longer than one (1) month but less than one (1) year will be compounded and credited at maturity. 

For CDs of one (1) year or longer, the interest will be compounded and credited semi-annually.

Member FDIC
Early Withdrawal Penalties On Certificates of Deposit and IRA's

Certificates with a term of less than 3 months:

Withdrawals before the maturity date will be assessed a penalty equal to thirty one (31) days of interest on the principal withdrawn at the simple interest rate being paid on the deposit, whether earned or not.

Certificates with a term of 3 months to 1 year:

Withdrawals before the maturity date will be assessed a penalty equal to three (3) months of interest on the principal withdrawn at the simple interest rate being paid on the deposit, whether earned or not.

Certificates with a term of more than 1 year:

Withdrawals before the maturity date will be assessed a penalty equal to six (6) months of interest on the principal withdrawn at the simple interest rate being paid on the deposit, whether earned or not.

No penalties are assessed when withdrawals are made within ten (10) days after maturity.