Certificates of Deposit and IRAs
Certificate of Deposit
For longer term investments with higher yields, open a Certificate of Deposit. You may purchase a Certificate of Deposit for as little as $500 for a specific period of time. Rates vary according to the term selected, and you choose when interest is paid: monthly, quarterly, semi-annually or at maturity. Certificates of Deposit are subject to a penalty for early withdrawal.
- Terms range from three (3) months to sixty (60) months
- Competitive interest rates
- Automatic certificate renewal
- Certificates may be used as collateral on loans
- Interest may be reinvested, deposited to another account, or paid by check
Individual Retirement Accounts (IRA)
An IRA is a convenient savings program that allows money to be set aside for retirement. Withdrawals from an IRA may be made without penalty after reaching age 59 ½. A substantial interest penalty, as required by law, is charged for early withdrawals from an IRA. Choose any of our IRA options from twelve (12) months to sixty (60) months with a minimum opening deposit of $500.
