CDs & IRAs
A certificate of deposit is an account paying a higher than passbook rate with a fixed term and fixed rate of interest. Most of our certificate accounts automatically renew on their maturity date for the same term and at the “current” rate for that term, unless you are notified in advance.
Our Principal Plus CD’s have several benefits that are not available with our other CD types. First, you choose the term. Between 38 to 64 months. Second, you can make deposits to these accounts without changing the term or the rate on the account. The minimum additional deposit amount is $100.00. Third, these CD’s allow a onetime per term option to request a rate change without extending the maturity.
Early withdrawal Penalties are as follows:
A Certificate of Deposit with a term of 30 days through 12 months is equal to 3 months simple interest on the amount withdrawn.
A Certificate of Deposit with a term longer than 12 months is equal to 6 months simple interest on the amount withdrawn.
A Certificate of Deposit with a fixed term of 48 or 60 month is equal to 12 months simple interest on the amount withdrawn.
We offer both Traditional and Roth IRA Products.
What is a Traditional IRA?
Who is eligible to have an IRA?
When can I contribute to an IRA?
What is a Roth IRA?
Who is eligible to have a Roth IRA?
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