Minimum Balance to Open the Account:
Minimum Balance to Obtain Disclosed APY:
Interest will be compounded daily and paid at maturity.
Interest Crediting Frequency:
Early Withdrawal Penalties:
- A penalty will be imposed for withdrawals made before maturity. Early Withdrawal Penalty may reduce the principle balance.
- For the term one (1) year, the penalty amount will be equal to one (1) month’s simple interest of the closing balance.
- For the term longer than one (1) year and up to three (3) years, the penalty amount will be equal to three (3) months’ simple interest of the closing balance.
$10.00 Trustee-To-Trustee transfer fee applied.
- You may not make additional deposits into your account before maturity.
- Withdrawals during the term will be considered as Early Withdrawals.
- Withdrawal from your retirement account may be subject to additional penalties imposed by the state and federal governments.
Non-Automatically Renewable Time Deposit:
Renewal of Time Deposit:
- This account will automatically renew at maturity.
- Each renewal term will be the same as the original term, beginning on the maturity date.
- The interest rate will be the same we offer on new Certificate of Deposits on the maturity date which have the same features as the original CD account.
- You may prevent renewal if you withdraw the funds at maturity (or within the grace period (7 calendar days)) or provide us written notice within the grace period.
- We can prevent renewal by mailing a written notice to you at least 30 calendar days before maturity.
- If either you or we prevent renewal, interest will not accrue after the maturity.
Accrual of Interest on Noncash Deposits:
Daily Balance Computation Method: