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Certificates of Deposit

  • Interest begins to accrue on the business day you deposit non-cash items (checks). We use the daily balance method to calculate the interest on your certificate of deposit. This method applies a daily periodic rate to the principal in the certificate of deposit each day.
  • If interest compounding occurs during the term of the certificate of deposit, the annual percentage yield disclosed assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • If you close your account before interest is credited, you will receive the accrued interest.
  • For certificates of deposit that WILL automatically renew at maturity, you will have 10 calendar days after the maturity date to withdraw funds without penalty.
  • For certificates of deposit that WILL NOT automatically renew at maturity, interest accrued after maturity will not be paid.
  • Certificates of deposit may be purchased for various terms
  • Additional account disclosure information is provided upon request.
  • $1000.00 minimum deposit for 3, 6, 9, 12, 18, 24, 30, 36, 48, 60 month certificates of deposit.

Certificates of Deposit - Early Withdrawal Penalty

  • The following penalty may be charged to your certificate of deposit if you withdraw any principal before the maturity date:
    • For deposits with an original maturity of less than three months, the penalty will be the forfeiture of all simple interest that could have been earned on the face value of the Certificate.
    • For deposits with an original maturity of three months to one year, the penalty will be the forfeiture of three months simple interest on the face value of the Certificate.
    • For deposits with an original maturity of more than one year, the penalty will be the forfeiture of six months simple interest on the face value of the Certificate.
  • If sufficient interest has not accrued at the time of withdrawal, principal will be reduced to the extent necessary to meet the required penalty.
  • The amount of the penalty will be calculated using the interest rate in effect on your account at the time of the withdrawal.
  • Early withdrawals made because of death or judicially declared incompetence of a depositor would not be penalized.
  • Early withdrawal penalties may not always apply to IRA accounts. See your IRA account literature for details.

*Additional deposits are not allowed until maturity. Withdrawals from your account may not be made until maturity without our consent.

The following fees are charged for services rendered:

Account Reconcilement $25.00 / hr
Account Maintenance Fee (per account)
(Monthly if balance falls below minimum)
Account Research $25.00/hr
Bags - Locked $10.00
Bags - Zippered $5.00
Canadian Items Processing  Per Instance
Cashier Checks $3.00
Check Printing (Dependent on style of check ordered)
Collection Item $25.00
Copies Statement $3.00
Copies of Checks $3.00
Currency Counting - Non Customer $5.00
Debit Card Replacement Fee $5.00
Deposit Item Return Fee $5.00
Expedited ATM/Debit Card Fee Per Instance
Fax - 1st page $2.00
          additional page $1.00
Funds Deficit Transfer Fee $7.50
Inactive Fee (accounts under $250 / per month) Based on 12 months of no activity $10.00
Return Statement Fee $5.00
Money Orders $2.00
Overdraft per item ($100.00 max per day) $25.00
Per Items Returned Non-Sufficient Funds ($100.00 max per day) $25.00
Photocopies $0.25
Safe Deposit Box     3" x 5" $15.00
                                       5" x 5" $20.00
                                       3" x 10" $30.00
Safe Deposit Box Late Fee $10.00
Lost Key $25.00
Safe Deposit Box Drilling Per Instance
Stop Payment $20.00
Wire Transfers
   Domestic incoming $10.00
   Domestic outgoing $20.00
   International outgoing $30.00
   International incoming $30.00


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