Certificate of Deposits (CDs)
A Banking Relationship That Puts Your Needs First
Watch your money safely grow with our Certificate of Deposit options.
These federally insured deposits will maximize your earnings and minimize your risk.
And, because we save our best rates for our most loyal members, you can choose to use your Relationship Rewards points to add an additional .25% or .50% to our already great rates. Visit our Relationship Rewards page to learn more about this exciting program.
Rates as of: 4/14/2014 - 4/20/2014
|Certificate of Deposit:||APY||Relationship Rewards|
|APY with .25% bonus||APY with .50% bonus||Point cost for .50% bonus on $10,000|
|3 month||0.20%||0.45%||0.70%||313 Points|
|6 month||0.30%||0.55%||0.80%||625 Points|
|12 month||0.40%||0.65%||0.90%||1,250 Points|
|24 month||0.60%||0.85%||1.11%||2,500 Points|
|36 month||0.80%||1.06%||1.31%||3,750 Points|
|48 month||1.01%||1.26%||1.51%||5,000 Points|
|60 month||1.21%||1.46%||1.71%||6,250 Points|
|$500 - 10 month||0.35%||0.60%||0.85%||
How many REWARDS points will I need?
Except as specifically described, the following disclosures apply to all of the accounts.
- Rate Information. The Annual Percentage Yield is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. For Certificate of Deposit, IRA Certificate of Deposit, Promotional Rate Certificate of Deposit, IRA Promotional Rate Certificate of Deposit, $500.00 Certificate of Deposit, $500.00 IRA Certificate of Deposit accounts, the Interest Rate and Annual Percentage Yield are fixed and will be in effect for the initial term of the account. The Certificate of Deposit, IRA Certificate of Deposit, Promotional Rate Certificate of Deposit and IRA Promotional Rate Certificate of Deposit accounts are Tiered Rate accounts. Once a particular range is met, the Interest Rate and Annual Percentage Yield for that balance range will apply to the full balance of your account. For accounts subject to interest compounding, the Annual Percentage Yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings.
- Interest Compounding and Crediting. The compounding and crediting frequency of interest applicable to each account is stated in the Rate Schedule. *For all accounts, you may choose to have interest credited to your account monthly or at maturity. At your option, credited interest may be added to your account balance, may be paid to you by check, or may be paid to another credit union account of yours.
- Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. To open any account you must deposit or already have on deposit at least the par value of one full share in any account. The par value amount is stated in the Fee Schedule. Some accounts may have additional minimum opening deposit requirements. For all accounts, interest is calculated by the Daily Balance method, which applies a periodic rate to the balance in the account each day.
- Accrual of Interest. For all accounts, interest will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.
- Transaction Limitations. For all accounts, after your account is opened you may make withdrawals subject to the early withdrawal penalties stated below.
- Maturity. Your account will mature as stated on this Truth in Savings disclosure or on your Account Receipt or Renewal Notice.
Early Withdrawal Penalty. We may impose a penalty if you withdraw from your account before the maturity date.
Amount of Penalty. For all accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:
Terms of 3 months or less
1 month's interest
Terms of 4 months to 11 months
3 month's interest
Terms of 12 months to 24 months
6 month's interest
Terms of 25 months or longer
9 month's interest
How the Penalty Works. The penalty is calculated as a forfeiture of part of the interest that has been or would be earned on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principal.
Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:
- When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
- Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after the establishment; or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple interest earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59 ½ or becomes disabled.
Renewal Policy. The renewal policy for your accounts is stated in the Rate Schedule. For Certificate of Deposit, IRA Certificate of Deposit, $500.00 Certificate of Deposit, $500.00 IRA Certificate of Deposit and Variable Rate Certificate of Deposit accounts, your account will automatically renew for another term of the same length upon maturity. For Promotional Rate Certificate of Deposit and IRA Promotional Rate Certificate of Deposit accounts, your account will automatically renew for the next shorter available term offered on non-promotional accounts at the time of renewal. For all accounts, you have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.
Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable.