|
Statement Savings
| Christmas Clubs | CDs
| IRAs
CERTIFICATES
OF DEPOSIT
West Union Bank offers a variety of Certificates of Deposit (CDs)
for your savings needs. Whether you prefer a short-term CD for a quick
return or a more substantial savings for the future, we offer a CD for your
lifestyle.
Our
knowledgeable Bankers will assist you in reviewing our CDs and selecting
one that will work best for you.
The
Chart below shows our CDs and interest rates. Other guidelines governing
our CDs are listed below the Chart.
CD
INTEREST RATES – EFFECTIVE MAY 6, 2008
Term
Length
|
Compounding
Frequency
|
Interest
Rate
|
Calculated
APY*
|
Deposit
Customer Rate
|
Deposit
Customer APY*
|
|
**90
Day
|
At
Maturity
|
1.640%
|
1.650%
|
|
|
|
**182
Day
|
At
Maturity
|
1.840%
|
1.850%
|
|
|
|
**10
Month
|
At
Maturity
|
2.150%
|
2.150%
|
|
|
|
12
Month
|
Monthly
|
2.230%
|
2.250%
|
2.280%
|
2.300%
|
|
18
Month
|
Monthly
|
2.130%
|
2.150%
|
|
|
|
24
Month
|
Monthly
|
2.230%
|
2.250%
|
2.280%
|
2.300%
|
|
27
Month
|
Monthly
|
1.820%
|
1.840%
|
|
|
|
30
Month
|
Monthly
|
2.280%
|
2.300%
|
|
|
|
36
Month
|
Monthly
|
2.325%
|
2.350%
|
|
|
|
40
Month
|
Monthly
|
2.520%
|
2.550%
|
|
|
|
48
Month
|
Monthly
|
2.620%
|
2.650%
|
|
|
|
60
Month
|
Monthly
|
2.810%
|
2.850%
|
|
|
|
**7
Month
|
At
Maturity
|
1.890%
|
1.900%
|
|
|
|
15
Month
|
Monthly
|
3.150%
|
3.200%
|
|
|
|
|
|
|
|
|
|
|
Bump-Up
|
|
|
|
|
|
|
25
Month
|
Monthly
|
2.23%
|
2.250%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*
APY is Annual Percentage Yield
**The 90 Day CD, 182 Day CD, 7 Month,
10 Month CDs pay simple interest.
Value Bump-Up CD
●
The Value Bump-Up CD is a Certificate of Deposit in which the purchaser of
the Certificate may elect to increase the rate paid on the Certificate to
current rates twice during the term of the Certificate. Each time the purchaser chooses to
increase the rate, he or she may also choose to deposit more funds into the
Certificate, with a minimum additional deposit of $500 and a maximum
additional deposit equal to the original amount of the Certificate. At maturity, the Value Bump-Up CD will
automatically renew at current rates.
You may prevent renewal by withdrawing the funds at Maturity or
during the 10-day grace period.
Early withdrawal is subject to approval and a penalty equal to six
months’ interest may be imposed.
CDs
– General Information
•
Interest for CDs will be compounded every month, with the exception of CDs
with terms of less than one year. These will compound at maturity.
• Interest will be credited to your account every month.
• You must deposit $500 to open a West Union Bank CD.
• You may not make any deposits into your CD before maturity.
• You may make withdrawals of principal from your CD before maturity
only if we agree at the time you request the withdrawal. A penalty may be
assessed.
• You can withdraw only interest credited in the term before maturity
of that term without penalty. You can withdraw interest one time during the
term after it is credited to your CD.
• A penalty may be imposed for withdrawals before maturity. If your
account has an original maturity of one year or less, the fee we may impose
will equal one month's interest on the amount withdrawn subject to penalty.
If your account has an original maturity of greater than one year, the fee
we may impose will equal three months’ interest on the amount
withdrawn subject to penalty.
• The annual percentage yield assumes interest will remain on deposit
until maturity. A withdrawal will reduce earnings.
• West Union Bank CDs automatically renew at maturity. You may
prevent renewal if you withdraw the funds in the account at maturity (or
within the 10-day grace period) or if we receive notice from you within the
10-day grace period. If you prevent renewal, interest will not accrue after
final maturity.
• CDs will automatically renew at the same rate being offered for new
time deposits that have the same term.
For
more information or to open an account contact us, Choose the Contact Us Link on the
Menu at left for bank locations and telephone numbers.
 
|
