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Truth-in-Savings CD 1-Year |
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TRUTH-IN-SAVINGS DISCLOSURE
1-Year Rate Riser CD
Interest Rate
Rate: 2.71%
APY: 2.75%
The Interest Rate and the Annual Percentage Yield may change. At your discretion, you may change the interest rate on the account once per each 1 year term length. You will be given the rate offered on our existing 1 year CD product at the time you choose to change your rate. We may change the interest rate upon your renewal of the CD.
The balance on which interest is calculated for your account is determined by the daily balance method.
Interest will be compounded daily.
Interest will be credited maturity.
Maturity
Your account will mature in one year.
This account will automatically renew at maturity. If you withdraw any of the principal before the maturity date, we may impose a penalty of an amount equal to 90 days interest. You will have ten business days after the maturity date to withdraw funds without penalty. If you do not withdraw the funds, each renewal term will be for an identical period of time as the original term.
Minimum Deposit, Time and Balance Requirements
To open this account, you must deposit $500. You may not make additional deposits into this account. You may not make withdrawals from your account until the maturity date.
To earn the annual percentage yield shown, your entire balance must remain on deposit for at least one year.
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Transaction Limitations
You may not make withdrawals from or deposits into this account until maturity.
If you withdraw any funds before maturity, your account will be charged an early withdrawal penalty in an amount equal to 90 days' interest.
This early withdrawal penalty may invade principle.
Additional Fees and Terms
Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (e.g., checks). Interest will be compounded daily and will be credited to the account at maturity.
Balance Computation Methods
The daily balance method applies a periodic rate to the full amount of principal in the account each day.
Schedule of Fees and Charges
| ATM Star Withdrawal | $1 |
| ATM Cirrus Withdrawal | $1 |
| ATM Star/Cirrus Balance Inquiry | $1 |
| ATM Star/Cirrus Transfer | $1 |
| ATM & Visa Check Card PIN Reorder | $3 |
| ATM & Visa Check Card Replacement | $5 |
| Automatic Funds Transfer | $2 |
| Bill Payment (Each) | $5 |
| Closing an Account (0-90 days) | $10 |
| Copies of Safekeeping Items | $2 |
| Overdrafts (Per Item) | $30 |
| Insufficient Funds (Per Item) | $30 |
| Returned Deposited Item | $3 |
| Annual Debit Card Fee | FREE |
| Stop Payment (Per Item) | $30 |
| Statement of Account — Instant | $1 |
| Statement of Account — Duplicate | $3 |
| Statement of Account — Special | $5 |
MICR encoded checks and deposits not purchased through the bank must be properly encoded. If the document does not meet the required standards, a handling charge of $1 per item may be assessed to re-encode the documents
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. Equal Housing Lender. 