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CERTIFICATES OF DEPOSIT
Description: Certificates of Deposits are accounts for
individuals and businesses who want to invest funds for a specific
period of time.
Rate Information: A Certificate of Deposit is an interest
bearing account. The interest rate and annual percentage yield are
included in the Current Interest Rate chart. The interest rate and
annual percentage yield may change. Interest begins to accrue from
date of deposit. Interest will not be compounded on the account.
Interest will be credited annually or at maturity if term is less
than one year. Based upon your preference, interest may be deposited
in an account of your choice either at the Bank or at another
financial institution or mailed in a check to you.
Limitations: A minimum deposit of $1,000 is required to open
this account. You may not make withdrawals from your account until
maturity.
Account Information: Terms for Certificates of Deposit range
from 30 days to 5 years. The Bank reserves the right to redeem the
account. The account will cease to accrue interest at maturity
unless it is renewed. If you withdraw any of the principal before
maturity, we may impose a penalty of not less that 30 days simple
interest.
Rates: See Current Interest Rates |
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