Personal Banking
Checking | Savings | CDs & IRAs | Personal Loans
 

CDs & IRAs
See below for info on new FDIC limits.

Certificates of Deposit
This interest bearing account is best for anyone who wants to earn a higher rate of interest for a set term. $500 minimum and more opening balance. There is a substantial penalty for withdrawal prior to maturity.

  • Terms of three (3) months to five(5) years available.
  • Interest begins to accrue on non cash items the business day the bank receives the deposit. Interest may be paid or compounded.
  • Individual Retirement Account (IRA) Certificate of Deposit requires
    a $250 minimum to open (see below).


Individual Retirement Accounts (IRAs)
Traditional, SEP, Roth, and Educational IRA available. Best for anyone planning for their retirement, or funds for educational needs.

  • Interest begins to accrue on non-cash items the business day the bank receives the deposit. Interest is compounded daily.
  • Funds are invested in Certificates of Deposit for a guaranteed return on your investment. See Certificates of Deposit section for more details.

$250.00 minimum opening balance. Substantial penalty for withdrawal prior to maturity on Certificates of Deposit Outgoing transfers or roll-overs are subject to a documentation fee of $25.00 each.

FDIC-Insured Deposits for Retirement
now Guaranteed up to $250,000
Congress recently raised the limit on the federal deposit insurance that protects your retirement savings. The new law provides up to $250,000 of deposit insurance for retirement accounts -- the combined total of the traditional and Roth IRAs (Individual Retirement Accounts), self-directed Keoghs and certain other retirement accounts an individual may have on deposit at an FDIC-insured bank or savings institutions, up from $100,000 previously. In general, self-directed means the consumer chooses how and where the money is deposited.

Note: FDIC insurance coverage for self-directed retirement accounts applies primarily to certificates of deposit or "CDs". Please see above info regarding CDs and IRAs. These accounts also are insured to $250,000 separately from any other deposits you may have at the same institution. The higher coverage took effect on April 1, 2006.

Remember, the basic insurance coverage for other deposit accounts remains at $100,000 per depositor. For further information, visit www.fdic.gov or call the FDIC toll free at 877-275-3342.