CDs & IRAs

Individual Retirement Deposit Accounts

If you close your account before interest is credited, you will not receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account at any time. On non-cash items, interest will begin to accrue on the business day of deposit.

Statement Period: Quarterly
Refer to your IRA Contract and Disclosure Statement for additional information and disclosures for IRA Accounts.

*The Daily Balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

Individual Retirement Certificated Accounts

PENALTY FOR EARLY WITHDRAWAL
Loss of one month’s interest on the principal Early withdrawal penalty waived if due to death, disability of depositor or other reasons that management might determine.

Renewal Policy
Your certificate will AUTOMATICALLY RENEW. You will have a grace period of 10 days from maturity date to present this certificate for payment without penalty. If the certificate automatically renews, IT WILL BE RENEWED AT THE RATE IN EFFECT AT THIS INSTITUTION ON THE DATE OF MATURITY.

Refer to your IRA Contract and Disclosure Statement for additional information and disclosures for IRA Accounts.

*The Daily Balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

Certificates of Deposit

Interest will be credited to your account or paid to you monthly, quarterly, semiannually, annually, at maturity or as agreed upon. The annual percentage yield (APY) assumes that interest remains on deposit until maturity. A withdrawal will reduce earnings. After the account is opened, you may not make any deposits into or withdrawals from the principal in the account until the maturity date.

Interest begins to accrue on the business day you deposit any non-cash item (for example, checks).

PENALTY FOR EARLY WITHDRAWAL
Maturity of 7-30 days — the greater of: (1) all interest earned on the principal from the most recent of the date of deposit or last renewal, or (2) all interest that could have been earned on the principal during a period equal to one-half of the maturity period, or (3) seven days’ interest on the principal. Maturity of 31-365 days — one month’s interest on the principal Maturity of over 1 year — three months of interest on the principal Early Withdrawal Penalty waived if due to death, disability of depositor or other reasons that management might determine.

Renewal Policy
If your Certificate is SINGLE MATURITY and does not automatically renew, Present it PROMPTLY at maturity as no interest is payable after the maturity date. If your certificate will AUTOMATICALLY RENEW, you will have a grace period of 10 days from maturity date to present this certificate for payment without penalty. If the certificate automatically renews, IT WILL BE RENEWED AT THE RATE IN EFFECT AT THIS INSTITUTION ON THE DATE OF MATURITY.

*The Daily Balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.