The rate paid is determined according to tiered balances and may change from time to time. You are rewarded for keeping higher balances. There are limitations required by federal law in the number and type of withdrawals which can be made during a monthly statement period. You may make six withdrawals during the month, not more than three of which may be by check, draft or similar order to third parties. A variable rate, high interest, fixed term investment that you can add to with a guaranteed return of your principal and interest.
Terms range from six months to two years and statements are issued quarterly.
Interest rates are related to those paid on fixed-rate certificates of deposit, yet change as those rates change. The rate paid is set upon issue and is dependent upon the amount and maturity of the certificate. Early Withdrawal Penalties Withdrawal of funds from Flex CD or a Certificate of Deposit prior to maturity may result in a a maximum penalty which will be fixed in writing at the time of investment. The Bank offers fixed or variable rate IRA Accounts, Rollover Accounts, Roth and Education IRA Accounts, Self-Directed IRA Accounts, Qualified Retirement Plans and SEP's. Additional contributions may be made at any time to variable rate IRA Accounts.