Renewable CD


Diversify your portfolio with a renewable certificate of deposit. It offers a guaranteed interest rate and the flexibility to choose a term that meets your investment needs.

Rate Information
View our current rate information or contact us for promotions.

Compounding and Crediting
At your option, interest may be credited monthly, quarterly, semi-annually, or annually. For certificates with terms of one year or less, interest will not compound during the term of the account. For certificates with terms greater than one year, interest compounds annually.

Minimum Balance Requirements
You must deposit $1,000.00 to open a renewable certificate of deposit.

Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a periodic rate to the principal in the account each day.

Accrual of Interest on Noncash Deposits
Interest begins to accrue no later than one business day after we receive credit for the deposit of noncash items (for example, checks).

Transaction Limitations
You cannot make deposits into or withdrawals from this account except on the maturity date or within the grace period.

Early Withdrawal Penalty
We may impose a penalty if you withdraw any of the principal before the maturity date. The principal amount may be reduced to pay the penalty.

Term and Early Withdrawal Penalty
30-90 days - 31 days simple interest
91-364 days - 91 days simple interest
365 days & longer - 182 days simple interest

In the event a depositor dies or is declared mentally incompetent, an authorized representative may make an early withdrawal of funds without penalty.

Renewal Policy
This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty. Additional principal deposits and withdrawals can be made at maturity.