90 Day Certificate of Deposit
Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 90 days. Interest begins to accrue on the business day you deposit noncash items (for example, checks), if received by 3:00 p.m. Interest will be credited to the account at maturity. You may opt to receive interest checks on a monthly basis.
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 $1,000.00 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 this account prior to maturity date to withdraw funds without penalty.
Time Account Information: Your account will mature in 90 days. If you withdraw any of the principal before the maturity date we may impose a penalty of three (3) months’ interest on the amount withdrawn. If you close the account before interest is credited, you will not receive the accrued interest. This account will automatically renew. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
