Certificates of Deposit (CD)

A CD is an account offered to depositors who agree to keep their money in the account for a specified amount of time in exchange for a specified interest rate.

Certificate of Deposit
Minimum Opening Deposit $1,000
Maturity Terms 60 days to 3 years
Interest Rate Contact the bank for our current rates.
Limitations Penalty assessed if Certificate is withdrawn before maturity:
 0-90 days: 30 days of interest. 91-365 days: 90 days of interest. 366-729 days: 180 days of interest. 730 & up: 360 days of interest.

Certificate of Deposits or CDs are similar to savings accounts in that they are insured by the FDIC. They are different from savings accounts in that a CD has a specific fixed term, varying from 60 days to three years. Also a CD has a fixed interest rate. It is intended that the CD be held until the maturity of the term, at which time the money may be withdrawn or rolled over into the same term or a different term. Interest will be paid at maturity. CDs earn different rates for different terms. If a CD is withdrawn before the end of the term, there will be a penalty imposed.



  • Short Term and Long Term
  • Automatically Renewable
  • Penalty for Early Withdrawal
  • Variety of Terms
  • Locked in Rate