Certificates of Deposit (CD)
Earn a higher interest rate with our CD options. When your term is up, choose to automatically renew at a new rate, add to the balance, change the term or withdraw the funds.
- Terms from 3 months to 5 years
- Interest earned may be withdrawn at any time, transferred to another account or mailed directly to you
- Renewal notice will be mailed prior to CD maturity
- $1,000 minimum deposit to open
Substantial penalty for early withdrawal.
Effective Date: Saturday, June 3, 2023
| Product | Minimum To Open | Interest Rate | Annual Percentage Yield (APY)%* | |
|---|---|---|---|---|
| 3 Month CD** | $1,000.00 | 0.05% | 0.05% | |
| 6 Month CD** | $1,000.00 | 0.10% | 0.10% | |
| 9 Month CD** | $1,000.00 | 0.15% | 0.15% | |
| SPECIAL 11 Month CD*** | $1,000.00 | 3.75% | 3.82% | |
| SPECIAL 11 Month Bump Up CD*** | $1,000.00 | 4.00% | 4.07% | |
| 12 Month CD** | $1,000.00 | 0.20% | 0.20% | |
| 15 Month CD** | $1,000.00 | 0.25% | 0.25% | |
| 18 Month CD** | $1,000.00 | 0.30% | 0.30% | |
| 24 Month CD** | $1,000.00 | 0.35% | 0.35% | |
| 36 Month CD** | $1,000.00 | 0.40% | 0.40% | |
| 48 Month CD** | $1,000.00 | 0.45% | 0.45% | |
| 60 Month CD** | $1,000.00 | 0.50% | 0.50% |
Some CD rates are also available for Individual Retirement Account (IRAs) with a minimum balance of $1,000.00. IRAs are NOT available through online account opening. IRAs are NOT available for a term of less than 6 months.
* Interest is compounded monthly. Annual percentage yield (APY) assumes principal and interest remain on deposit for one year. Minimum opening deposit is $1,000. Minimum daily balance to earn stated APY is $.01. Rates offered are subject to change without notice.
** Interest rates at time of maturity set based on prevailing financial conditions. Substantial penalty on certificates should the Bank consent to early withdrawal of principal. Rates offered are subject to change without notice.
***11-Month CD
- 4.07% Annual Percentage Yield (APY) - Promotional offer is available to new and existing checking account customers only. For new customers, both accounts, checking and CD, must be opened at the same time to unlock bump up rate of 4.07% APY.
- 3.82% Annual Percentage Yield (APY) - Promotional offer is available to new and existing customers without a checking account.
- 11-Month CD rates are effective as of 1/27/2023. Minimum CD opening deposit is $1,000. Automatically renews at maturity for 12 months at the then current CD rate and term. Minimum balance to obtain APY is $0.01. Substantial penalty for early withdrawal. Available for IRAs and business customers.
The Federal Deposit Insurance Corporation (FDIC) insures deposits of up to $250,000. All portions of deposits in excess of $250,000 are insured by the Depositors Insurance Fund (DIF).
Traditional IRA
Save for retirement while taking advantage of tax benefits and earning a better return on your money. Contribute pre-tax income to the account and defer taxes on your earnings until you begin withdrawing funds during retirement. Individuals may contribute up to $6,500 per year and couples up to $12,000, even if only one spouse works. If you are age 50 or older, you may contribute an additional $1,000 per year.*
- Terms from 6 months to 5 years**
- Interest earned is tax deferred until withdrawn***
- Annual contributions may be tax deductible*
- Contributions from earned income may be made at any age*
- Distributions must begin the year you attain age 72
*Certain restrictions may apply. Consult your tax advisor.
**Some CD rates are also available for Individual Retirement Accounts (IRA's) with a minimum balance of $1,000.00. IRA's are NOT available through online account opening. IRA's are NOT available for a term of less than 6 months.
***Substantial penalty for early withdrawal.
Roth IRA
Interest earnings on Roth IRA contributions are tax-deferred and may be withdrawn tax-free if the IRA owner meets requirements. Individuals may contribute up to $6,500 per year and couples up to $12,000, even if only one spouse works. If you are age 50 or older, you may contribute an additional $1,000 per year. Plus, contributions may even be made if you are currently enrolled in a qualified employee pension plan.*
- Contributions from earned income may be made at any age*
- Terms from 6 months to 5 years**
- Annual contributions are not tax deductible
- Distributions are tax- and penalty-free once you've reached age 59 ½ and have been in the plan for at least 5 years***
*Certain restrictions may apply. Consult your tax advisor.
**Some CD rates are also available for Individual Retirement Accounts (IRA's) with a minimum balance of $1,000.00. IRA's are NOT available through online account opening. IRA's are NOT available for a term of less than 6 months.
***Substantial penalty for early withdrawal.
