6 Month Certificate of Deposit

Features:

·        Fixed rate interest as posted under Deposit Rates.

·        $1,000.00 minimum balance required to open this account

·        Interest will be compounded semiannually.  Interest will be credited semiannually to your account.

·        If you close your account before interest is credited, you will receive the accrued interest.

·        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).

·        The account will mature in 6 months.

·        You may not make withdrawals of principal from your account before maturity.

·        You can withdrawal only interest credited in the term before maturity of that term.  You can withdraw interest any time during the term of the deposit after it is credited to your account.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.

·        If we consent to a request for a withdrawal that is otherwise not permitted you may have to pay a penalty.  The penalty will be an amount equal to: three months’ interest on the amount withdrawn.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 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.

·        There are certain circumstances, such as death or incompetence of an owner, where we may waive or reduce this penalty.  See your plan disclosure if this account is part of an IRA. 

·        You may not make any deposits into your account until maturity.

·        This account will not renew automatically at maturity.  OR  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.  We can prevent renewal if we mail notice to you at least 10 days before maturity.

·        Each renewal term will be the same as the original term, beginning on the maturity date.  The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.