Certificates of Deposit
Regular Certificates of Deposit
- $500 minimum opening balance
- Current fixed rates available
- Certificate terms available 30 days through 60 months
- Interest calculation methods:
- Maturities of less than one year - simple interest
- Maturities of 12 to 60 months - compounded daily and credited semi-annually
- Certificates can be held in the Bank's Safekeeping at no charge
- After the account is opened, you may not make deposits or withdrawals other than earnings posted to the account until the maturity date
Power Certificates of Deposit
- $500 minimum deposit to open
- Rate may be increased one time during term at customer's option
- Add to the balance one time during the term in any amount up to the original amount of the certificate
- Terms available from 18 through 60 months
- Certificates can be held in the Bank's Safekeeping at no charge
- After the account is opened you may not make withdrawals other than earnings posted to the account until the maturity date
IRA - Individual Retirement Accounts
- Traditional, Roth, Coverdell Educational Savings, IRAs and 401K rollovers can be invested in either a Certificate of Deposit or an IRA Variable Rate Savings Account
- Terms for optional crediting of interest are as follows:
- $2,500 minimum interest may be credited to a transaction or savings account
- With a $5,000 minimum there is the additional option to have interest paid by check.
