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CERTIFICATES OF DEPOSIT
This disclosure contains information about terms, fees, and interest rates for some of the accounts we offer.
Interest Rates and Annual Percentage Yields are current as of 09/03/2008
For current rate information call (319) 278-4761
3 MONTH CERTIFICATE OF DEPOSIT.
Rate Information: This account is an interest bearing account. The interest rate on the account is 3.13% with an annual percentage yield of 3.17%.
The interest rate and annual percentage yield will not change for the term of the account.
The interest rate will be in effect for 3 months. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will not be compounded on the account. Interest will be credited to the account maturity.
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Limitations: You must deposit $1,000.00 to open this account. You may not make additional deposits into this account. Withdrawals of last credited interest allowed.
Time Account Information: Your account will mature in 3 months. If you withdraw any of the principal before the maturity date we may impose a penalty of 3 month's interest. This account will automatically renew. You will have 10 days after the maturity date to withdraw funds without penalty.
6 MONTH CERTIFICATE OF DEPOSIT.
Rate Information: This account is an interest bearing account. The interest rate on the account is 3.39% with an annual percentage yield of 3.42%.
The interest rate and annual percentage yield will not change for the term of the account.
The interest rate will be in effect for 6 months. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will not be compounded on the account. Interest will be credited to the account maturity.
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. Withdrawals of last credited interest allowed.
Time Account Information: Your account will mature in 6 months. If you withdraw any of the principal before the maturity date we may impose a penalty of 3 month's interest. This account will automatically renew. You will have 10 days after the maturity date to withdraw funds without penalty.
10 MONTH CERTIFICATE OF DEPOSIT.
Rate Information: This account is an interest bearing account. The interest rate on the account is N/A with an annual percentage yield of N/A.
The interest rate and annual percentage yield will not change for the term of the account.
The interest rate will be in effect for N/A. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded N/A and will be credited to the account N/A.
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Limitations: You must deposit N/A to open this account. You may not make additional deposits into this account. Withdrawals of last credited interest allowed.
Time Account Information: Your account will mature in 12 months. If you withdraw any of the principal before the maturity date we may impose a penalty of 6 month's interest. The annual percentage yield assumes interest compounds N/A and will remain on deposit until maturity. A withdrawal will reduce earnings. This account will automatically renew. You will have 10 DAYS after the maturity date to withdraw funds without penalty.
12 MONTH CERTIFICATE OF DEPOSIT.
Rate Information: This account is an interest bearing account. The interest rate on the account is 3.46% with an annual percentage yield of 3.49%.
The interest rate and annual percentage yield will not change for the term of the account.
The interest rate will be in effect for 12 months. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded Semi-Annually and will be credited to the account semi-annually.
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. Withdrawals of last credited interest allowed.
Time Account Information: Your account will mature in 12 months. If you withdraw any of the principal before the maturity date we may impose a penalty of 6 month's interest. The annual percentage yield assumes interest compounds semi-annually and will remain on deposit until maturity. A withdrawal will reduce earnings. This account will automatically renew. You will have 10 DAYS after the maturity date to withdraw funds without penalty.
18 MONTH CERTIFICATE OF DEPOSIT.
Rate Information: This account is an interest bearing account. The interest rate on the account is 3.59% with an annual percentage yield of 3.62%.
The interest rate and annual percentage yield will not change for the term of the account.
The interest rate will be in effect for 18 months. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded Semi-Annually and will be credited to the account semi-annually.
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. Withdrawals of last credited interest allowed.
Time Account Information: Your account will mature in 18 months. If you withdraw any of the principal before the maturity date we may impose a penalty of 6 month's interest. The annual percentage yield assumes interest compounds semi-annually and will remain on deposit until maturity. A withdrawal will reduce earnings. This account will automatically renew. You will have 10 DAYS after the maturity date to withdraw funds without penalty.
30 MONTH CERTIFICATE OF DEPOSIT.
Rate Information: This account is an interest bearing account. The interest rate on the account is 3.82% with an annual percentage yield of 3.86%.
The interest rate and annual percentage yield will not change for the term of the account.
The interest rate will be in effect for 12 months. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded Semi-Annually and will be credited to the account semi-annually.
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. Withdrawals of last credited interest allowed.
Time Account Information: Your account will mature in 30 months. If you withdraw any of the principal before the maturity date we may impose a penalty of 6 month's interest. The annual percentage yield assumes interest compounds semi-annually and will remain on deposit until maturity. A withdrawal will reduce earnings. This account will automatically renew. You will have 10 DAYS after the maturity date to withdraw funds without penalty.
36 MONTH CERTIFICATE OF DEPOSIT.
Rate Information: This account is an interest bearing account. The interest rate on the account is 3.95% with an annual percentage yield of 3.99%.
The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 36 months. Interest begins to accrue no later than the business day we receive credit for the deposit of non cash items (for example, checks). Interest will be compounded semi annually and will be credited semi annually. We will mail the interest in a check to you or deposit the interest in an account that you designate. The annual percentage yield assumes interest will remain on deposit till maturity. A withdrawal will reduce earnings.
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Limitations: You must deposit $3,000.00 to open this account. You may not make additional deposits into this account. Withdrawals of last credited interest will be allowed.
Time Account Information: Your account will mature in 36 months. If you withdraw any of the principal before the maturity date we may impose a penalty of 6 months interest. This CD will automatically renew. You will have 10 days after the maturity date to withdraw funds without penalty.
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