A SMART Account
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Certificates of Deposit
This Disclosure Statement is applicable to all of our Certificates of Deposits ("CDs") that we offer. The following table provides a profile of all such products reflecting the Term, Rate, APY and Minimum Amount of each:
Special - Rate through December 20, 2024
| Terms | Interest Rate (In %) | Annual Percentage Yield (APY In %) |
|---|---|---|
| 12 Months | 4.21 | 4.25 |
| 18 Months | 4.11 | 4.15 |
Board Rates
| Terms | Interest Rate (In %) | Annual Percentage Yield (APY In %) |
|---|---|---|
| 3 Months | 1.24 | 1.25 |
| 6 Months | 1.49 | 1.50 |
| 9 Months | 1.75 | 1.75 |
| 12 Months | 2.24 | 2.25 |
| 18 Months | 2.34 | 2.35 |
| 24 Months | 2.48 | 2.50 |
| *36 Month Bump Up CD | 3.17 | 3.20 |
| 48 Months | 2.98 | 3.00 |
| 60 Months | 3.17 | 3.20 |
* This CD allows for a one-time rate bump during the term of the certificate.
Minimum CD Amount $1,000
Interest Computation- You will be paid the interest at the stated rate for the term you choose until the maturity date of the certificate. Interest accrual begins on the first business day after the day we receive your deposit then credited to your account at maturity for the 3,6 and 9 month certificates and compounded and credited to your account every six months for the 12 month through 60 month certificates. The annual percentage yield (APY) assumes the interest remains on deposit until maturity and that any withdrawals will reduce earnings.
Balance Computation Method- We use the daily balance method to calculate the interest on your account. This method applies to a daily, periodic rate to the principal in the account each day.
Transaction Limitations- After the account is opened, you may not make deposits into or withdrawals from the account until maturity date.
Early Withdrawal Penalty- If we consent to a request for a withdrawal that is otherwise not permitted, you may have to pay a penalty. The penalty for such withdrawal of any CD with a term to maturity of 12 months or less will be an amount equal to one month of interest. The penalty for early withdrawal of all other CD's will equal three months of interest.
Renewal Policy- This account will be automatically renewed at maturity. You will have a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty.
Rates accurate as of December 9, 2024.
