Certificates of Deposit

• All Certificates of Deposit have a minimum deposit of $500 to open the account and earn interest
• A monthly check or transfer of interest is permitted on certificates with a minimum balance of $5000 and a term of 6 months or more
• Interest is compounded semi-annually on all Certificates of 1 year or more
• On Certificates of less that 1 year, interest will be compounded at maturity
• On 7 day ready Access Certificates, interest will be compounded at maturity
• Early withdrawal of principle penalties vary with the term of the certificate
  • 183 days or more - early withdrawal penalty will equal six months interest on the amount withdrawn
  • 182 days or less - early withdrawal penalty will equal three months interest on the amount withdrawn
  • 7 day ready access - no penalty for early withdrawal after first seven days of opening the account