Certificate of Deposit

Fixed Rate Information

  • Call 979-732-2332 for current rates.
  • You will be paid this rate until maturity.

Compounding and Crediting

  • Interest will be compounded daily and will be credited to your account as directed.
  • The annual percentage yield assumed interest will remain on deposit until maturity.
  • A withdrawal will reduce earnings.
  • If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.
  •  Interest will be paid quarterly or annually, or at maturity, as you direct.

Minimum Balance Requirements

  • You must deposit $500.00 to open this account.
  • You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.
  • You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.

Balance Computation Method

  • We use the daily balance method to calculate interest on your account.
  • This method applies a daily periodic rate to the principal in the account each day.

Accrual on Noncash Deposits

  • Interest begins to accrue on the business day you receive credit for the deposit of noncash items (for example: checks).

Transaction Limitation

  • You may make deposits into or withdrawals from your account until the maturity date.
  • You may withdraw interest earned during the term without penalty, but if it is not withdrawn, it will be added to the principal for the renewed term.

Early Withdrawal Penalty

  • If you withdraw any of the deposited funds before the maturity date, a penalty will be imposed.
  • For certificates having a maturity of one year or less, the penalty will be 30 days interest.
  • For certificates having a maturity over one year, the penalty will be 90 days interest.
  • The penalty will be deducted after interest has been credited on the date of withdrawal.

Renewal Policies

  • Your account will automatically renew at maturity.
  • You will have a grace period of ten calendar days after the maturity to withdraw the funds in the account without being charged an early withdrawal penalty.

Current Rate Information

  • The rate(s) and annual percentage yield(s) disclosed above were offered and accurate within the most recent seven calendar days.
  • To obtain current rate and percentage yield information, please call 979-732-2332.