|
|
|
|
Trust Notes & Disclosures
IRA/CDs
1. The current APY (Annual Percentage Yield) and interest rate are included on a separate rate sheet. Current rate sheets are available at all of our locations. The interest rate is based on a 365-day year. 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.
2. The penalty for early withdrawal is equal to 6 months interest on the amount withdrawn using the interest rate at the date of withdrawal.
3. The Variable Rate is based on the 182-day U.S. Treasury Bill rate for the last auction prior to the 20th of March, June, September and December and will be adjusted quarterly as of the First of April, July, October and January.
|
|
