RATE INFORMATION:The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the dividend rate and annual percentage yield are fixed and will be in effect for the initial term of the account. For accounts subject to dividend compounding, the annual percentage yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
DIVIDEND PERIOD: For each account, the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date.
DIVIDEND COMPOUNDING AND CREDITING: Dividends will be credited the last day of the month for the amount earned during the month and compounded monthly. At your option, you may choose to have dividends credited to your certificate account, paid to you by check or transferred to another account of yours. If you elect to have dividends paid to you by check or transferred to another account, compounding will not apply. If the certificate is closed before accrued dividends have been credited, accrued dividends will not be paid.
BALANCE INFORMATION: To open any account, you must deposit or already have on deposit the minimum required share(s) in a Primary Savings account. Some accounts may have additional minimum opening deposit requirements. For all accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.