Certificate of Deposit

Minimum to Open: $1,000

Product Pricing & Charges:

• Early withdrawal penalties will be imposed for withdrawals before maturity
• Terms less than one year, 3 month’s interest on the amount withdrawn
• Terms one year or more, 6 month’s interest on the amount withdrawn

Features & Restrictions:                                            

• No ATM Card
• No Debit Card
• Free Internet Banking (No Bill Pay) with Associated Checking
• Free Telephone Banking
• Credited Interest may be withdrawn during the term without penalty.
• Interest can be added back to principal, credited to another account or a check issued.
• Automatic renewal at maturity. Ten (10) grace days after maturity are available for deposit /withdrawal without penalty.

Terms:

• 30 days to 60 months

Note: Terms are the same for business CD’s and IRA’s

Minimum to Open: $1,000

Product Pricing & Charges:

• Early withdrawal penalties will be imposed for withdrawals before maturity
• 3% of principal plus a $25 fee

Features & Restrictions:                                            

• No ATM Card
• No Debit Card
• Free Internet Banking (No Bill Pay) with Associated Checking
• Free Telephone Banking
• Credited Interest may be withdrawn during the term without penalty.
• Interest can be added back to principal, credited to another account or a check issued.
• Automatic renewal at maturity. Ten (10) grace days after maturity are available for deposit /withdrawal without penalty.

Terms:

• 13, 19, 26, 31, 37 months

Note: Terms are the same for business CD’s and IRA’s

With our Certificate of Deposit accounts, your money can grow on your terms. A CD can be a great way to save for college or your first home. With terms starting at 3 months going as long as 5 years it allows you to earn a higher rate of interest for a fixed period of time. It’s important to make sure the funds you are depositing into a CD account will not be needed for the term you select as penalty and fees may apply.

All of our CDs are FDIC-Insured up to the maximum applicable limit, but if insurance is needed for a larger amount we can accommodate you using our reciprocal relationship with IntraFi Network (formerly known as CDARS). The benefit to working with the IntraFi Network is that you eliminate the need to go from bank to bank to properly protect your money in excess of $250K.

A certificate of deposit account typically offers higher interest rates compared to regular savings accounts. The tradeoff is you agree to keep your money in the CD for a set amount of time. Generally, the longer the CD term, the higher the interest rate tends to be, allowing you to earn more on your savings. Also, since CDs have fixed terms, they discourage impulsive withdrawals, helping you stay disciplined in saving for your financial goals.

To sign up, come into one of our branches and speak with a personal banking associate about how we can tailor a CD that fits YOUR needs.