| |
Personal
or Business Checking and Savings Accounts
Account Type |
Interest
Rate |
Annual
Percentage Yield |
Minimum
to Open |
Minimum
to Earn Interest |
Interest
Compounded |
| Checking
w/ Interest |
0.20 |
0.20 |
$1 |
$1,000 |
Monthly |
| Tiered
Money Market |
0.40 |
0.40 |
$1,000 |
$1 |
Monthly |
| $10,000-24,999 |
0.50 |
0.50 |
$1,000 |
$10,000 |
Monthly |
$25,000
+ up |
0.60 |
0.60 |
$1,000 |
$25,000 |
Monthly |
| Regular
Savings |
0.60 |
0.60 |
$100 |
$.01 |
Quarterly |
Interest rates are subject to change. Fees could
reduce earnings on the account. Rates effective as of
9-1-10.
Certificates
of Deposit
|
Minimum
to Open |
Interest
Rate |
Annual
Percentage Yield |
1
Month CD |
$500 |
0.70 |
0.70 |
| 3
Month CD |
$500 |
0.70 |
0.70 |
| 6
Month CD |
$500 |
0.70 |
0.70 |
| 1
Year CD |
$500 |
1.15 |
1.15 |
| 18
Month CD |
$500 |
1.25 |
1.25 |
| 2
Year CD |
$500 |
1.45 |
1.45 |
| 30
Month CD |
$500 |
1.50 |
1.50 |
| 3 Year
CD |
$500 |
1.60 |
1.60 |
| 4 Year
CD |
$500 |
1.90 |
1.90 |
| 5
Year CD |
$500 |
2.20 |
2.20 |
| 10 Year
CD |
$500 |
2.50 |
2.50 |
| Jumbo
1 Month CD |
$100,000 |
0.70 |
.70 |
| Jumbo
3 Month CD |
$100,000 |
0.70 |
0.70 |
| Jumbo
6 Month CD |
$100,000 |
0.70 |
0.70 |
Jumbo
1 Year CD |
$100,000 |
1.15 |
1.15 |
| Jumbo
18 Month CD |
$100,000 |
1.25 |
1.25 |
| Jumbo 2
Year |
$100,000 |
1.45 |
1.45 |
| Jumbo
30 Month CD |
$100,000 |
1.50 |
1.50 |
| Jumbo 3
Year CD |
$100,000 |
1.60 |
1.60 |
| Jumbo 4
Year CD |
$100,000 |
1.90 |
1.90 |
| Jumbo 5
Year CD |
$100,000 |
2.20 |
2.20 |
| Jumbo
10 Year CD |
$100,000 |
2.50 |
2.50 |
Interest penalty for early withdrawal from certificates
of deposit. Interest rates are subject to change. Fees could
reduce earnings on the account. Rates effective as of
9-1-10.
Individual
Retirement Accounts
|
Minimum
to Open |
Interest
Rate |
Annual
Percentage Yield |
Interest
Compounded |
| 18
month Fixed Rate CD |
$100 |
1.3450 |
1.35 |
Quarterly |
Interest penalty for early withdrawal from certificates
of deposit. Interest rates are subject to change. Fees could
reduce earnings on the account. Rates effective as of
9-1-10.
FDIC Deposit Insurance Information
The Federal Deposit Insurance
Corporation (FDIC) is an independent agency of the United States
government that protects the funds depositors place in FDIC-insured
institutions. FDIC deposit insurance is backed by the full faith and
credit of the United States government. Since the FDIC was
established in 1933, no depositor has ever lost a single penny of
FDIC-insured funds.
There is no need for depositors to
apply for FDIC insurance or even to request it; coverage is
automatic. FDIC insurance covers funds in deposit accounts,
including checking and savings accounts, money market deposit
accounts and certificates of deposit. FDIC insurance does not cover
other financial products that insured banks may offer, such as
stocks, bonds, mutual fund shares, life insurance policies,
annuities or municipal securities.
The standard insurance amount
currently is $250,000 per depositor. The $250,000 limit is permanent
for IRAs and other certain retirement accounts. The $250,000 limit
is temporary for all other deposit accounts through December 31,
2013. On January 1, 2014, the standard insurance amount will return
to $100,000 per depositor for all account categories except IRAs and
other certain retirement accounts, which will remain at $250,000 per
depositor.
To ensure funds are fully protected,
depositors should understand their coverage limits. The FDIC
provides separate coverage for deposits held in different account
ownership categories. The coverage limits shown in the chart below
refer to the total of all deposits that an accountholder has in the
same ownership categories at each FDIC-insured institution. The
chart below assumes that all FDIC requirements are met (for details
on the requirements, go to www.fdic.gov/deposit/deposits).
FDIC Deposit Insurance Coverage
Limits (Through December 31, 2013)*
| Single Accounts (owned by one
person) |
$250,000 per owner |
| Joint Accounts (two or more
persons) |
$250,000 per co-owner |
| IRAs and other Certain Retirement
Accounts |
$250,000 per owner |
| Revocable Trust Accounts |
$250,000 per owner per
beneficiary up to 5 beneficiaries (more coverage is available
with 6 or more beneficiaries subject to specific limitations
and requirements) |
| Corporation, Partnership and
Unincorporated |
$250,000 per corporation,
partnership or unincorporated association |
| Irrevocable Trust Accounts |
$250,000 for the non-contingent,
ascertainable interest of each beneficiary |
| Employee Benefit Plan Accounts |
$250,000 for the non-contingent,
ascertainable interest of each plan participant |
| Government Accounts |
$250,000 per official custodian |
You can calculate your insurance coverage using
the FDIC's Electronic Deposit Insurance Estimator at www.myfdicinsurance.gov.
For questions about FDIC coverage, call toll-free 1-877-ASK-FDIC or
ask a representative at your bank.
*Unlimited deposit insurance coverage for
non-interest -bearing transaction accounts (as defined in 12 C.F.R.
Part 370) at institutions participating in the FDIC's Transaction
Account Guarantee Program is available through December 31, 2010. The
extension of the temporary standard insurance amount of $250,000
through 2013 does not apply to the Transaction Account Guarantee
Program.
Member FDIC |
