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.