Savings

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Regular Savings

  • Minimum opening deposit $100Savings
  • Limited 3 withdrawals per quarter
  • Withdrawals exceeding limitation, a $2 per transaction Excessive Activity Fee will apply

Money Market Account

  • Minimum opening deposit is $1,000
    Maintain $1,000 daily balance to avoid $10 Base Charge fee
  • **Authorized Debits** Limited 6 transfers from account each statement cycle in the form of third party check, internet transfers, automatic transfers, ACH transfers/debits, overdraft transfers, or telephone request
  • Withdrawals in person are unlimited.

CDs

  • Minimum deposit of $500 to open (rates will vary according to the term)CDs
  • Certificates of Deposits are available from 6 to 60 month terms; rates will vary according to the term
  • Early withdrawal penalty may apply
  • After the account is opened you may not make additional deposits
  • Interest may be reinvested, deposited to another account, or paid out by check
  • Pays a competitive rate of interest through maturity date
  • Maturity notice is mailed ten days prior to maturity date
  • Certificates can be used as collateral on loans

IRAs

  • Minimum deposit of $500 to open
  • Fixed-rate CDs 12, 24, 36, 48, and 60 month terms available; rates will vary according to the term
  • All interest earned is tax-deferred until withdrawal
  • Available for withdrawal at age 59 ½
  • No IRS penalty for withdrawal at age 59½ and over
  • Required Minimum Distributions (RMD) at age 70½
  • Please consult with your tax advisor about any and all IRA transactions

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