Certificates of Deposit

Total T Certificate

• Total of term is 182 days.
• Minimum balance to open is $2,500.00.
• The interest rate and annual percentage yield are fixed for the term of the account.
• Interest accrues on the day of deposit to the day of withdrawal.
• Interest is paid at the end of each term. Interest is paid by check or by electronic crediting to a transaction account (Now account or Savings account).
• Interest is not taxable by IRS until year of receipt. There is no compounding of interest on this account.
• Automatic renewal at end of each term.
• No deposits may be made to the account after it is opened. Additional deposits can be made at maturity.
• No withdrawals can be made from the account without penalty until maturity.
• Early withdrawal penalty is the greater of all the interest to date or 30 days of interest, whether earned or not due to the tax deferral feature.

(6 Month)

Total T Plus Certificate

• Interest is transferred monthly to a NOW Checking or Savings account.
• Early withdrawal penalty is 30 days of interest, earned or not.
• All other terms of the Total T certificate apply.

(6 Month)

Total T Special Certificate

• Minimum balance to open is $2,500.00.
• Interest is transferred monthly to a NOW Checking or Savings account. There is no compounding of interest on this account.
• Automatic renewal defaults to a Total T Plus certificate.
• The interest rate and annual percentage yield are fixed for the term of the account.
• Interest accrues on the day of deposit to the day of withdrawal.
• No deposits may be made to the account after it is opened. Additional deposits can be made at maturity.
• No withdrawals can be made from the account without penalty until maturity.
• Early withdrawal penalty is 30 days of interest, earned or not.

(Call for current term)

Five-In-One Certificate

• The minimum balance to open the account is $2,500.00.
• The interest rates and annual percentage yield are fixed for the term of the account.
• The Five-in-One certificate is available only to customers who maintain $1,000.00 on deposit in a NOW Checking or Savings account.
• Interest is transferred monthly to a NOW Checking or Savings account. There is no compounding of interest on this account.
• Interest accrues on the day of deposit to the day of withdrawal.
• The term is one year with automatic and guaranteed renewals for up to five years. Each renewal pays a guaranteed higher rate with a bonus rate in the fifth year.
• The account can be withdrawn without penalty on any annual maturity date. Withdrawals between maturity dates incur a penalty of 30 days of interest, earned or not.
• No deposits may be made to the account after it is opened.

One Year Certificate

• The minimum balance to open the account is $10,000.00.
• The interest rate and annual percentage yield are fixed for the term of the account.
• Interest accrues on the day of deposit to the day of withdrawal.
• Interest is paid at the end of the year and computed as simple interest without compounding. Interest is paid by check or by electronic crediting to a transaction account (Now account or Savings account).
• Interest is not taxable until year of receipt. Due to this tax deferral feature, penalty for withdrawal during term is severe, all interest accrued on the amount withdrawn.
• No deposits may be made to the account after it is opened. Additional deposits can be made at maturity.
• No withdrawals can be made from the account without penalty until maturity.

18 & 30 and 60 Month Certificates

• The minimum balance to open the account is $500.00.
• The interest rate and annual percentage yield are fixed for the term of the account.
• Automatic renewal at end of each term.
• Interest is compounded quarterly and paid (credited) quarterly, on the last day of each calendar quarter (March 31, June 30, September 30, December 31), and at maturity.
• Interest accrues on the day of deposit to the day of withdrawal.
• No deposits may be made to the account after it is opened. Additional deposits can be made at maturity.
• After the certificate is opened, no withdrawals of principal can be made from the account without penalty, except for interest, until maturity.
• Early withdrawal penalty is 180 days of interest, earned or not.

42 Month Certificate

• For this certificate, deposits of up to twice (2x) the original principal, may be made to the certificate within the first year of the date the account was originally opened, or within the first year of any renewal term. No deposits can be made after that time. Deposits can be made at maturity.
• All other terms of the 18 & 30 and 60 Month certificate apply.

Home Buyer’s CD

• This certificate is available to first-time home buyer’s only.
• The minimum balance to open the account is $500.00. The maximum opening balance will be limited to $12,000.00.
• Additional deposits can be made during the term of the account up to $12,000.00 annually.
• This is a 60 month term. This account is non-renewable.
• Interest is compounded quarterly and paid (credited) quarterly, on the last day of each calendar quarter (March 31, June 30, September 30, December 31), and at maturity.
• Interest accrues on the day of deposit to the day of withdrawal.
• One-time rate “bump-up”. The account holder will be allowed to increase the interest rate and the corresponding annual percentage yield to the current rate and annual percentage yield offered by Community at that time. This rate increase will be limited to one time only during the term of the account.
• 1% grant is given if the funds are used for the home down payment and you obtain your mortgage with Community.
• No withdrawals can be made from the account without penalty. Early withdrawal penalty is 180 days of interest, earned or not (penalty waived if funds used for a home down payment and mortgage is with Community)