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Certificate of Deposit
With initial investments beginning as
low as $500, you can choose from a variety of fixed rate certificates
of deposit with terms of three months to five years. Interest is
compounded and credited to the certificate each month. However,
you may choose to have the interest paid to you or to another account
every month rather than credited to the certificate.
- Minimum amount to open a CD is $500.00.
- Earns dividends, see rate sheet for current rates
- Must have a S1
savings account with a minimum of $5.00.
- Penalties will be incurred if early withdrawals
are taken.
- If 3 months, 6 months, or 1 year CD =
90 days of interest whether earned or not.
- If 2 or 3 year CD = 180 days of interest
whether earned or not.
- If your account has a maturity of five
years, the penalty we may impose will equal 365 days interest,
whether earned or not.
- Maturity notices mailed 10 days before maturity
date.
- Members will receive statements quarterly.
(If checking account does not exist)
- Terms range from 3 months to 5 years.
- Interest is paid monthly, and at maturity.
- Deposits, withdrawals or changes may be made
up to 10 days after maturity.
- Withdrawals of paid interest are permissible
at any time without penalty.
- Prevailing interest rates will remain in
effect during entire term of certificate.
- CD's can be used as collateral for a CD secured
loan.
- CD's automatically renew for same term at
current CD rate.
- Choice of maturity dates from 3 months -
5 years.
- Federally insured to $100,000 by the NCUA.
- Guaranteed high rates for the term of the
certificate.
- Interest may be:
- Added to Certificate
- Transferred to Checking or Savings
- Withdrawn at any time without penalty
- Interest check mailed upon request
- Certificate funds may be used as collateral
on CD Secured Loans.
- Interest paid monthly and at maturity.
- Early withdrawals result in a penalty on
principal amounts:
- Term of 1 year or less; an amount equal
to 90 days dividends at the certificate rate, whether earned
or not.
- Terms over 2 years or more; an amount
equal to 180 days dividend at the certificate rate whether
earned or not.
- If your account has a maturity of five
years, the penalty imposed will equal 365 days of interest,
whether earned or not.
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