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A Certificate of Deposit (often called a CD) is a type of savings account with a fixed rate and fixed maturity. That means that the interest rate on the money deposited is guaranteed, as long as the money remains in the bank for the time shown on the certificate. There is an interest penalty if all or part of the deposited money is withdrawn before the maturity date.
This is an FDIC insured deposit. The interest rate is fixed for the term of the certificate. Interest is compounded daily and paid or credited monthly. Certificates may be automatically renewed at maturity. You will have seven (7) calendar days from the maturity date to withdraw your funds without being charged a penalty. The interest rates paid vary by maturity and may be found on the current rate sheet. The minimum balance required to open this account is $500 and additional deposits are not permitted. Your interest rate and annual percentage may change at our discretion. Interest begins to accrue on the day you deposit cash/non-cash items. Please call for additional details.
Interest is compounded daily and paid or credited monthly. Certificate rates are found on the current rate sheet. Early withdrawal penalties apply
Fees may reduce earnings on the account.
NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE
FOR NON-INTEREST BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a non-interest bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC).
Beginning January 1, 2013 all of a depositor's accounts at an insured depository institution, including all
non-interest bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount $250,000 for each deposit insurance ownership category.
For more information about FDIC insurance coverage of non-interest bearing transaction accounts, visit