Time Deposits

• We offer 91 and 182 Day, 12, 18, 30, and 36 Month Time Deposits.

• You must deposit $500.00 to open a time deposit account.

• For a 91 Day Time Deposit interest will be compounded every 91 days.

• For a 182 Day Time Deposit interest will be compounded every 182 days.

• 12, 18, 30 and 36 Month Time Deposits interest will be compounded every three months. We use the daily balance method to calculate interest on your account. This method applies a periodic rate to the principal in your account each day.

• Interest begins to accrue on the business day you deposit noncash items (for example, checks).

• For maturities greater than 182 days, interest will be credited to your account every 3 months.

• You may not make deposits into your account until the maturity date.

• We will impose a penalty if you withdraw any of the principal before the maturity date.  For maturities of 1 year or less, the fee we may impose will equal 91 days interest on the amount withdrawn subject to penalty; for maturities of more than 1 year, the fee we may impose will equal 182 days interest on the amount withdrawn subject to penalty.

• These accounts may automatically renew at maturity.  You will have 10 days after the maturity date to withdraw funds without penalty.