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Personal Banking \ Certificates of Deposit

Certificates of Deposit



Smart Choice: You have money to invest for a specific period of time.

What it is:

Here’s how Certificates of Deposit (CD's) work:

When you purchase a CD, you invest a fixed sum of money for a fixed period of time -- six months, one year, five years, or more -- and we pay you interest, typically at regular intervals.

Certificates typically pay a higher rate than other - more liquid - types of accounts because you are agreeing to keep your money here for a specified period of time.


Interest:

When you cash in or redeem your CD, you receive the money you originally invested plus any accrued interest. But if you redeem your CD before it matures, you may have to pay an "early withdrawal" penalty and forfeit a portion of the interest earned.


Terms:

We offer Certificates for the following terms:

6, 12, 18, 24, 30, 36, 48, and 60 Months

$500 Minimum to Open

Interest Compounded and Credited Quarterly 

Substantial Penalty for Early Withdrawal

30 Month Upgrade Certificate:

Our 30 Month Upgrade Certificate is designed to help you take advantage of a higher interest rate by locking your money in for a longer term and still having the advantage of "UpGrading" your rate if deposit rates increase.

Twice during the 30-Month term you may elect to change the interest rate on your certificate to our then current stated rate for the UpGrade CD.  After the interest rate change, the new interest rate will apply to the entire balance on deposit for the remainder of the term or until you elect to change the interest rate -- for a total of two times.

You may also make additional deposits to your certificate at the time of your interest upgrade of at least $500, but not to exceed double your original principal or principal value at last renewal.

$2,500 Minimum to Open

Interest will be compounded and credited semi-annually

Substantial Penalty for Early Withdrawal