Certificate of Deposit

Requirements:

  • Initial deposit required to open an account - $1,000.00

Benefits:

  • Interest will be compounded monthly unless you elect to receive the interest periodically
  • Interest will be credited to your account monthly.
  • If you close your account before interest is credited you will receive the accrued interest
  • The interest rate is fixed until the first maturity of the Certificate of Deposit
  • Account will automatically renew at maturity unless funds are withdrawn before 10 calendar days after maturity.

Cost:

  • If your account has an original maturity of one year or less, the fee imposed will equal one months of interest
  • If your account has an original maturity of more than one year, the fee imposed will equal three months of interest

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