3 Year CD Disclosures
Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for three (3) to five (5) years with term selected at account opening. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will be compounded daily and will be credited monthly. We will mail the interest in a check to you or deposit the interest in an account that you designate. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.
Limitations: You must deposit $1,000.00 to open this account. You may not make additional deposits into this account. You may not make withdrawals from your account until the maturity date.
Time Account Information: Your account will mature in three (3) to five (5) years with term selected at account opening. If you withdraw any of the principal before the maturity date, we may impose a penalty of ninety (90) days interest on the principal amount, whether earned or not. This account will automatically renew. You will have ten (10) calendar days after the maturity date to withdraw funds without penalty.