Truth in Savings
The annual percentage yield and the interest rate for your account will be as disclosed below, depending on the term you select. Rates subject to change. Rates shown below may only be available Online. For additional information please call 229-241-2797.
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Certificates of Deposit
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Term
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Interest Rate
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Annual Percentage Yield
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Minimum Deposit
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6 Months
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1.15%
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1.16%
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$5,000
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12 Months
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1.40%
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1.41%
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$5,000
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18 Months
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1.60%
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1.61%
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$5,000
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This disclosure contains the rules that govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular.
Interest will be compounded daily and added back to the principal monthly.
The annual percentage yield assumes that interest remains on deposit until maturity. A withdrawal of interest will reduce earnings. If you close your account before interest is credited, you will not receive the accrued interest.
You must deposit at least $5000.00 to open this account. Once your CD is funded, we will mail a final Truth in Savings reflecting your CD information as well as the maturity date.
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal.
You can withdraw only interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the current term after it has been added to your balance.
An early withdrawal penalty may be imposed for withdrawals before maturity. The penalty will be an amount equal to 90 days’ interest on the amount withdrawn. The interest rate we will use to calculate the interest forfeiture will be the simple interest rate in effect on the date of early withdrawal. We will charge the penalty first against any interest then in the account, and any excess will be deducted from the amount you withdraw.
We reserve the right to treat any withdrawal which would reduce the balance remaining in the account below the required minimum initial deposit or minimum balance as a withdrawal of the entire account balance and calculate the amount of the penalty accordingly. In certain circumstances, such as the death or incompetence of an account owner, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
No additional deposits may be made to this account until maturity.
This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty. This account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew. Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term. Please call 229-241-2797 or 800-394-2321 to learn the new interest rate and annual percentage yield for your new account.
