Certificates of Deposit

Prepare for the future of your business with our CD accounts, which allow you to choose the length of deposit that makes sense for your business’s financial goals.

Options

 

Certificate Options

 

Short-Term CD

Long-Term CD

Length of Deposit

32 to 364 days

1 to 5 years

Minimum Deposit

$500

$100

Fixed Rates

Yes

Yes

Set-up Fees

None

None

FDIC-Insured*

Yes

Yes

Additional Deposits

Yes, of $500 or more at any time

No

Early Withdrawal Penalty**

Yes***

Yes***

Check Rates

*Deposits are insured by the Federal Deposit Insurance Corporation (FDIC) to at least $250,000 for each depositor. IRAs are separately insured up to $250,000 by the FDIC. 

**An early withdrawal will not be imposed following the death of an account holder or after an account holder is determined to be legally incompetent.

***Short Term: 30 day interest penalty; Long Term: 180 day interest penalty

CDARS®

The Certificate of Deposit Account Registry® (CDARS®) is a convenient way to access multimillion dollar FDIC Insurance on CD investments.  You sign one agreement with First Federal, earn one interest rate and receive one regular statement.  It’s that easy.

How CDARS® Works:

Everything is handled through First Federal, a CDARS® Network member. When you place a large deposit with First Federal, First Federal uses the CDARS® service to place your funds into CDs issued by other members of the CDARS® Network.

This occurs in increments below the standard FDIC insurance maximum ($250,000) so that both principal and interest are eligible for FDIC insurance. By working directly with just one institution, you can receive insurance coverage from many. And, you receive just one regular, consolidated account statement.

Visit your local branch to open an account.

Funds may be submitted for placement only after a depositor enters into a CDARS® Deposit Placement Agreement with us.  The agreement contains important information and conditions regarding the placement of funds by us.  CDARS® and Certification of Deposit Account Registry Service® are service marks of Promontory Interfinancial Network, LLC. The CDARS® service has been designed to satisfy the FDIC’s requirements for pass-through deposit insurance coverage.

Community Matters

Our philosophy continues to guide our decision-making and strengthen our dedication to our customers and our community. When you bank with us, your money is invested here and stays here, working for and giving back to our community.

Giving Programs

Community Support

Financial Education

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