Personal Banking


Frequently Asked Questions

How does a Certificate of Deposit (CD) compare to a Savings Account?

  • CDs only allow one initial funding deposit 
  • Funds are not available for withdrawal during the term of the CD 
  • The rate provided is generally higher than savings rates and will remain constant during the duration of the CD term 

Is there a minimum deposit required to open a CD?

Yes, the minimum required deposit is $2,500. 

How will I be notified when my CD is nearing maturity?

  • CD Pre-maturity letters are mailed to you at least 30 calendar days prior to CD maturity 
  • CDs will auto-renew following a 10-day grace period after the CD’s maturity date 
  • If you do not wish to renew a CD, written notification must be received prior to the CDs maturity or within the 10-day grace period 
  • Requests to close out a Certificate of Deposit (CD) can be made in person at the Financial Center, via secure message within online banking, or forwarded in writing via standard or express mail.  

What happens if I want to withdraw my funds prior to maturity?

For instances where the bank approves an early CD withdrawal, an early withdrawal penalty may be assessed. See CD Agreement for additional details.   

Can I make additional deposits into my CD account after it has been opened?

No. Additional deposits cannot be made to a CD following the initial deposit until the CD matures.  Additional deposits are permitted during the 10-day grace period at end of the initial term (or any subsequent terms). 

How do I view my interest rate and earned interest?

Interest rates and earned interest amounts can be viewed within online banking and on your bank account statements. 

What happens at the time when my CD matures?

If no written notification of changes has been received, the CD will renew into the same term CD from which it is maturing at the prevailing rate. You will receive a pre-maturity notice from the Bank at least 30 days prior to maturity.   

How is interest on my CD calculated?

Interest accrues daily and is calculated off of your daily balance. Interest is compounded and paid monthly.

Can I withdraw interest from my CD?

Yes, contact Customer Service to set up interest withdrawals. Customer Service Number: 800-242-0272 

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