Certificates of Deposit

Definition:   A deposit of funds for a specific period of time with a previously agreed upon rate of interest.
Features: Benefits: Wide variety of terms available Flexibility, convenience Interest accrues daily Interest Variety of interest payment methods Flexibility, convenience Interest paid monthly, quarterly, semi-annually, or at maturity Flexibility At maturity, CD's rollover for another term automatically at prevailing interest rate Convenience, uninterrupted earnings Notification of maturity date and value of maturing certificate sent to customer before the maturity date Information Customer has 10 days following the maturity date to make a reinvestment decision.  Funds may be withdrawn penalty-free during this period Convenience, flexibility Certificates may be pledged as collateral on a loan Lower interest rate FDIC Insurance Safety
Opening Requirements: Minimum deposit of $1,000	Who is Eligible: Individuals Businesses Organizations