Certificates of Deposit

Time savings structured to customers’ needs. Various terms of maturity available and described below.

  • The minimum deposit required to open a Certificate of Deposit, regardless of term structure, is $1,000.
  • The minimum balance required to obtain the disclosed Annual Percentage Yield is $1,000, regardless of the term length of the Certificate.
  • All Certificates of Deposit have a fixed interest rate, which will not change for the term of the deposit.
  • Certificates of Deposit are available with the following maturities: 6 Month; 9 Month; 1 Year; and 2 Year.
  • Interest begins to accrue on the date of deposit if received by 2:30 p.m.
  • The term required to obtain the disclosed Annual Percentage Yield will be the full term of the Certificate (until maturity) . The Annual Percentage Yield disclosed assumes the interest remains on deposit until maturity.
  • Interest will be compounded and credited to your CD monthly unless you specify otherwise.
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principle of the account each day.
  • Your Certificate of Deposit will automatically renew at maturity. You have ten (10) calendar days from the maturity date to withdraw your funds without being charged a penalty.
  • After the account is opened, you may not make deposits into or withdrawals of principal from this account until the maturity date with the exception of the 9 Month Add-on CD. Withdrawals of credited interest are permitted without a penalty.
  • If the principal is withdrawn before the maturity date on a one- or three-month CD, a penalty equal to one month’s interest may be imposed. This penalty rate will be the rate in effect on the date of withdrawal.
  • If the principal is withdrawn before the maturity date on a six-month, nine-month, one year, or two-year CD, a penalty equal to three month‘s interest may be imposed.
  • This penalty rate will be the rate in effect on the date of withdrawal
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Bank by phone to obtain information about your checking, savings, or loan account 24 hours a day, 7 days a week by dialing (956) 761-5425 or 1-888-653-9559.