Terms and Disclosure for Certificate of Deposit (CD) Accounts Opened Online
$5,000 minimum to open account
A 5-Day Extended Hold will be placed on funds deposited in new accounts of this type.
Ownership available: Individual or Joint ownership (beneficiaries allowed). No Trust or business ownership available at this time.
Interest will post to the account. No interest will be disbursed (by check or any other method) during the term of the account.
Interest will not accrue after the maturity date.
There is no grace period. If you cash out your certificate at maturity, the transaction will occur on the maturity date and will be disbursed to an account of your choosing, which must be identified and confirmed in advance, using your online banking credentials.
Statements and notices are delivered electronically. No paper statements will be generated.
All activity for accounts opened online is intended to be managed via the Online Banking system (e.g. Opening, inquiries, and closing). Activity conducted in-branch on this account type is not allowed without an additional $10 fee per transaction.