CERTIFICATE OF DEPOSIT ACCOUNTS
| TERM | INTEREST PAID |
| 3 MONTH | AT MATURITY |
| 6 MONTH | AT MATURITY |
| 9 MONTH | AT MATURITY |
| 1 YEAR | QUARTERLY |
| 18 MONTHS | QUARTERLY |
| 2 YEARS | QUARTERLY |
| 3-5 YEARS | QUARTERLY |
| 5-7 YEARS | QUARTERLY |
TERMS & CONDITIONS
- To open a Certificate of Deposit, a minimum opening deposit of $1000 is required.
- Seven grace days to renew, add, withdraw, or close CD after maturity.
- Maturity notices are mailed out prior to the maturity date
- Automatically renewable for current term.
- Interest earned can be received two ways:
- By check
- Deposit to an existing Golden Belt savings or checking account
NOTICE OF PENALTY FOR EARLY WITHDRAWAL
For Certificate of Deposits with terms of under 1 year:
The penalty will be an amount equal to the greater of;
- the current institution rate minus the certificate rate, times the remaining number of days to maturity, times the amount withdrawn; or
- three months' interest on the amount withdrawn.
For Certificate of Deposits with terms of 1 year and over:
The penalty will be an amount equal to the greater of;
- the current institution rate minus the certificate rate, times the remaining number of days to maturity, times the amount withdrawn; or
- six months' interest on the amount withdrawn.
