Deposit Account Disclosure – For Regular and Deferred Certificate of Deposit Accounts

Interest Rates and Annual Percentage Yields are accurate as of September 1, 2010, and are subject to change without notice. Substantial penalty for early withdrawal.


Account Type Interest
Rate


(1), (4)		 Annual
Percentage
Yield
(APY)
(1), (4)		 Minimum
Balance to Open		 Minimum Balance Required To
Earn APY

(3)
3 Month Certificate 0.40 0.40 $500.00 $500.00
6 Month Certificate 0.50 0.50 $500.00 $500.00
1 Year Certificate 0.75 0.75 $500.00 $500.00
1.5 Year Certificate 0.75 0.75 $500.00 $500.00
2 Year Certificate 1.24 1.25 $500.00 $500.00
2.5 Year Certificate 1.24 1.25 $500.00 $500.00
3 Year Certificate 1.98 2.00 $500.00 $500.00
3.5 Year Certificate 1.98 2.00 $500.00 $500.00
4 Year Certificate 2.08 2.10 $500.00 $500.00
4.5 Year Certificate 2.08 2.10 $500.00 $500.00
5 Year Certificate 2.28 2.30 $500.00 $500.00

Account Type Interest
Rate


(1), (9)		 Annual
Percentage
Yield
(APY)
(1), (9)		 Minimum
Balance to Open		 Minimum Balance Required To
Earn APY

(3)
182 Day Deferred Certificate 0.50 0.50 $500.00 $500.00
100 Day Deferred Certificate 0.50 0.50 $500.00 $500.00

 

The Following Information Applies to the Certificate of Deposit accounts listed above:
   
1. Interest Rate on Certificates:
 
The interest rate in effect on the day your CD is opened will remain in effect until the maturity date of the CD, unless a withdrawal is made that brings your balance below the minimum balance shown above for each product type listed.
   
2. Effect of Interest Withdrawal:
 
The annual percentage yield assumes interest remains on deposit until maturity.  A withdrawal will reduce earnings.
   
3. Minimum Balance Requirements:
 
You must deposit $ 500.00 to open this account. You must maintain the minimum balance shown above in your account each day to earn the annual percentage yield disclosed.
   
4. Interest Crediting and Compounding:
 
Interest for your Certificate account will be compounded monthly and credited to your account on the last business day of the month.
   
5. Accrual of Interest on Non-cash Items:
 
Interest begins to accrue on the business day you deposit non-cash items, (for example, checks).
   
6. Balance Computation Method:
 
We use the daily balance method to calculate interest on your account.  This applies a daily periodic rate to the principal in your account each day.
   
7. Transaction Limitations and Early Withdrawal Penalties:
 
You may not make withdrawals of principal from your account before the maturity date without our consent. Except in the case of death or a court’s declaration of your incompetence, if you withdraw any principal before the maturity date, a penalty will be charged to your account equal to 1 month’s interest for 91 and 100 Day CD’s, 3 month’s interest for certificate(s) with a term of 1 year or less but greater than 100 Days, and 6 month’s interest for certificate(s) with a term of more than 1 year. You may not make additional deposits into your account during the term of the account.
   
8. Renewal Policy:
 
Your account will be automatically renewed at maturity.  You have a grace period of 7 calendar days after the maturity date to withdrawal the funds without being charged a penalty or to make deposits to the account.  Upon maturity, any interest paid during the term of the CD will be included as principal of the renewed CD if not withdrawn during the grace period.
   
9. Special Rules for Deferred Interest Certificates:
 
Interest is not compounded and will be credited to your account at maturity.    You may not make withdrawals of principal from your account before the maturity date without our consent.  Except in the case of death or a court’s declaration of your incompetence, if you withdraw any principal before the maturity date, a penalty will be charged to your account equal to 1 month’s interest.  You may not make additional deposits into your account during the term of the account.