TERM CERTIFICATES

You need a min­i­mum of $250 to open a reg­u­lar Term Cer­tifi­cate, and a min­i­mum of $100 to open a Tra­di­tion­al or Roth IRA Term Cer­tifi­cate.

When a cer­tifi­cate matures, or reach­es the end of the term (3 months, 6 months, 1 year, etc), you have a 10 busi­ness day grace peri­od in which you can add funds, with­draw some or all of the funds, or change the term with­out penal­ty.

While there may be some excep­tions, such as a ben­e­fi­cia­ry with­draw­ing from an IRA Term Cer­tifi­cate when the mem­ber pass­es away, there is usu­al­ly a penal­ty for with­draw­ing from a Term Cer­tifi­cate before it matures. The penal­ty:

• Equals 45 days of div­i­dends for a term less than 1 Year
• Equals 180 days of div­i­dends for a term of 1 Year or more
• Is cal­cu­lat­ed based on the amount with­drawn; if you only with­draw a por­tion of the Term Cer­tifi­cate (sub­ject to the min­i­mum bal­ance require­ments), the penal­ty will only be based on the amount of the with­draw­al

Our 18-Month Term Cer­tifi­cate is a Bump Up Cer­tifi­cate. If the offered rates for new cer­tifi­cates of that type go up dur­ing the 18 months before your cer­tifi­cate matures, you can request to increase your cur­rent inter­est rate to match the new rate for the remain­der of the term, with a lim­it of one such increase per term. Send us a Secured Mes­sage through Online & Mobile Bank­ing, or give us a call, con­tact us by chat, or stop by the branch to sub­mit your request.