Certificates of Deposit provide an interest-bearing term investment which requires a relatively small deposit. Current Certificate of Deposit rates can be obtained by calling a Customer Service Representative near you.

Rate Watcher CD

Features: 

• Term can be 24, 36, 48 or 60Month;
• The interest rate is determined according to the amount of the deposit;
• Interest rate is fixed for the term of the deposit, except for one rate increase that can be initiated by the customer at any time during the term of the Certificate;
• Interest rate may be increased by the customer once during the term of the Certificate, to the interest rate in effect for a Rate Watcher CD for a like term;
• Interest is compounded quarterly, or can be paid by check or automatically deposited to an existing Checking or Savings Account;
• Interest payments may be made quarterly, semi-annually, or annually;
• For deposits of $10,000 or more, interest may be paid monthly by check or deposit to an existing Checking or Savings Account;
• Automatically renewable for the same term;
• Additional deposits of $1000 or more can be made at any time up to an amount equal to, but not greater than, the original deposit amount or the last renewal value. Additional deposits do not extend maturities and will earn the rate in effect at the time of the deposit;
• If there have been additional deposits made to the account, a statement will be issued when interest is paid;
• Penalty for early withdrawal, consisting of the loss of nine month's interest for a term of 24, 36, 48 or 60 Months.
• For a sole proprietorship the penalty will be waived if the account owner dies or is declared incompetent.

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Rising Rate CD

Not Presently Offered.

Features:

• The interest rate is determined according to the amount of the deposit;
• Guaranteed predetermined rate increases on every scheduled rate adjustment date;
• Interest is accrued daily and credited to the certificate quarterly. The customer may elect to receive their interest by check quarterly or deposited to their account quarterly;
• For deposits of $10,000 or more, interest may be paid monthly by check or deposit to an existing Checking or Savings Account;
• Twelve month term with an option to renew up to two additional twelve month periods, for a total term of three years;
• Automatically renewable at maturity;
• Option to withdraw funds, without penalty, at any twelve month rate adjustment date;
• Minimum balance of $2,500 must be maintained, even after a partial withdrawal at a twelve month adjustment date;
• Additional deposits are not permitted;
• Penalty for early withdrawal, consisting of the loss of nine month's interest - the principal portion of the Certificate can be invaded.
• For a sole proprietorship the penalty will be waived if the account owner dies or is declared incompetent.

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3 - 5 Month, 6-8 Month, 9-10 Month CD

Features:

• The interest rate is determined according to the amount of the deposit;
• Interest payments may capitalize quarterly or may be transferred to the customer's Checking or Savings account quarterly with final Interest payment at maturity;
• Interest payments may be made monthly by check, or transfer to the customer's Checking or Savings account, if the balance of the Certificate exceeds $10,000;
• Renews automatically;
• Penalty for early withdrawal, consisting of the loss of all interest equal to the term of the deposit if the term is three to six months, the loss of six months interest if the term is seven to eleven months.
• For a sole proprietorship the penalty will be waived if the account owner dies or is declared incompetent.

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11 Month CD

Features:

• The interest rate is determined according to the amount of the deposit;
• The interest rate is fixed for the term of the Certificate and is calculated using the daily balance method;
• Interest is compounded quarterly; OR is payable quarterly or semi-annually by check or automatic deposit to a checking or savings account;
• For deposits of 10,000 or more, interest may be payable monthly by check or automatic deposit to a checking or savings account;
• Automatically renewable for the same term;
• Additional deposits are not permitted;
• Penalty for early withdrawal will consist of the loss of six months’ interest;

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Term CDs:

CD Terms:

*The features of the 3-5 Month 6-8 Month, 9-10 Month , 11 Month, CDs are different than the other term CDs.

Features:

• The interest rate is determined according to the amount of the deposit;
• Interest is compounded quarterly, or may be automatically deposited to your existing Checking or Savings Account quarterly, semi-annually, or annually;
• Interest rate is fixed for the term of the CD;
• For deposits of $10,000 or more, interest may be payable monthly by check or automatic deposit to a checking or savings account;
• Automatically renewable for the same term;
• Additional deposits are not permitted;
• Penalty for early withdrawal will consist of the loss of all interest equal to the term of the deposit if the term is three to six months, the loss of six months interest if the term is seven to eleven months, or the loss of nine months interest for term is twelve months or more;
• For a sole proprietorship the penalty will be waived if the account owner dies or is declared incompetent.

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Special Contract CD

• Consideration will be given to issuing CDs that do not meet the normal term or interest rate criteria;
• These CDs will be negotiated on an individual basis