The minimum balance to open a certificate is $500.00. Dividends are paid quarterly and are based on the certificate's average daily balance for that three-month period. Dividends can be added to the certificate or paid into a separate share account if you prefer.
Share Certificates are automatically renewed unless you let us know you wish to close them in advance. A notice of renewal reminder is sent out approximately one month prior to the renewal date. Once a Share Certificate is opened, additional deposits are allowed only during the renewal process. Withdrawals can be made to share certificates during the renewal period without penalty.
Should you need to close a Share Certificate prior to the end of term, an early withdrawal penalty will be charged. Share Certificate early withdrawal penalties are:
