32-90 Day Certificates of Deposit Truth in Savings Disclosure

Interest Rate Information

• The interest rate and annual percentage yield for your account are fixed until the maturity date. The maturity date will be 32-90 days after the opening date of the CD, depending on the time period chosen by the customer. Click here for the current interest rate and annual percentage yield.

Compounding and Crediting of Interest

• Interest is not compounded. Interest may be credited to your account balance or to a checking or statement savings account on the maturity date.
• If you close your account before interest is credited, you will receive the accrued interest. 

Accrual of Interest on Noncash Deposits

• Interest begins to accrue on the same day you deposit noncash items (for example, checks).

Minimum Balance Requirements

• You must deposit $1,000 to open this account.
• You must maintain a minimum balance of $1,000 in the account each day to obtain the disclosed annual percentage yield.

Balance Computation Method

• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Transaction Limitations

• You cannot withdraw principal or interest from this account except on the maturity date, or during the ten (10) day grace period following the maturity date without penalty.
• The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
• You may only make deposits into your account on the maturity date, or during the ten (10) day grace period following the maturity date.

Early Withdrawal Penalty

• If you request an early withdrawal from this account, you may have to pay a penalty. The penalty amount will equal one (1) month of interest. The interest rate we will use to calculate the interest forfeiture will be the rate of the certificate of deposit.
• If you withdraw some of your funds before maturity, the interest rate and annual percentage yield for the remaining funds in your account will be unchanged.

Renewal Policy

• This account will automatically renew at maturity. You will have ten (10) calendar days after the maturity date to withdraw funds without penalty.
• This account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew.