BUSINESS TIME DEPOSITS

Our time deposits have a guaranteed return and are a safe place to keep your money for a set period of time. Balances in these deposits are eligible for FDIC coverage.


FIXED RATE TIME DEPOSIT

A fixed rate deposit account with an automatic renewable feature.

*  Minimum opening balance of $500
*  Pick the term that works best for you
*  Rates are fixed for the entire term, so your money is insulated
*  Penalty for Early Withdrawal applies
*  Also available as a Retirement account.


BUMP RATE TIME DEPOSIT

Bump your interest rate.

*  A fixed rate deposit account with a pre-determined maturity date.
*  24 month term.
*  The rate on this account can be increased once during the term to take advantage of increasing yiels.
*  Penalty for Early Withdrawal applies
*  Also available as a Retirement account.


Interest rates and yields are subject to change daily.  If an account is closed before interest is credited, accrued interest will not be paid.  Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items.  We use the average daily balance method to calculate interest on your account.  This method applies a periodic rate to the average balance in the account for the period.


Account Type Minimum Deposit
To Open Account 
Average Balance 
to Obtain Annual
Percentage Yield
Compound
Frequency 
Interest 
Rate
Annual Percentage
Yield  (APY)   
TIME DEPOSITS
1  Month
3  Months
6  Months
12 Months
18 Months
2 Years
3 Years
4 Years
5 Years
 

$500.00
$500.00
$500.00
$500.00
$500.00
$500.00
$500.00
$500.00
$500.00

 

$500.00
$500.00
$500.00
$500.00
$500.00
$500.00
$500.00
$500.00
$500.00

 

Maturity
Quarterly
Quarterly
Quarterly
Quarterly
Quarterly
Quarterly
Quarterly
Quarterly

 

0.25%
0.50%
1.00%
1.24%
1.34%
1.49%
1.74%
1.99%
2.23%

 

0.25%
0.50%
1.00%
1.25%
1.35%
1.50%
1.75%
2.00%
2.25%

EARLY WITHDRAWAL PENALTIES: The bank imposes a penalty if you withdraw any of the principal and/or credited interest before the maturity date based on the term of your time deposit.  The following penalties will apply:
   Term:   Penalty:
1 month to 1 year 91 days interest