Certificate of Deposit (CDs)
With higher rates of return than traditional savings accounts, CDs offer safe, guaranteed ways to save. We offer certificates of deposit with fixed rates for the term of the CD and FDIC insurance (up to the maximum allowed by regulation), so there is no risk or loss of principal as long as funds remain on deposit.
Interest earnings are available monthly, and can be paid out by check, deposited into an account, or reinvested back into the principal. CDs will automatically renew at maturity and provide a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty or to notify us not to renew the certificate. A penalty may be imposed for early withdrawal, please see our disclosure book for details.
We also participate in the Certificate of Deposit Account Registry Service* (CDARS®) program. CDARS® provides a convenient way to enjoy full FDIC insurance on CD deposits up to $10 million through your banking relationship**.
With CDARS®, enjoy the simplicity of managing one account and a single monthly statement. This saves you from entering into multiple rate negotiations, tracking maturing CDs at numerous banks, organizing various interest disbursement checks, and monitoring changing collateral values.
For more information on CDARS®, please contact your local branch representative.
*Funds may be submitted for placement through CDARS® only after a depositor enters into the CDARS® Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us through CDARS®.
**Rates, deposit limits and terms are subject to change.
