Share Certificates

Share Certificates are available for the following terms:

  • 90 Day
  • 6 months
  • 1 year
  • 2 1/2 years
  • 5 years
  • A minimum balance of $500 is required to open these accounts.
  • Compounding and crediting – Dividends will be compounded monthly and will be credited monthly. If you close your certificate before dividends are credited and before maturity, you will receive credit for accrued dividends and be charged an early withdrawal penalty.
  • Balance computation method – Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal on deposit in your account each day.
  • Accrual of dividends – Dividends will begin to accrue on the business day you deposit non-cash items, such as checks, to your account.
  • Transaction limitations – After the account is opened, you may not make deposits into the account until the maturity date of the certificate.
  • Early withdrawal penalties – We may impose a penalty if you withdraw any of the funds before the maturity date. The penalty will be calculated on the amount withdrawn and will equal 90 days’ dividends for certificates with stated maturities of 6 months and 1 year, and 180 days’ dividends for certificates with stated maturities of 2 1/2 years and 5 years.
  • Renewal policies – Certificates will automatically renew at maturity, with a grace period of 10 business days after maturity in which to withdraw the funds without an early withdrawal penalty.
  • Certificates are also available for children age 16 and under. The term is one year and a minimum balance of $100 is required (maximum of $500). Limit one kids under 16 certificate per account.

Learn more about our Savings Rates

* * Operating in accordance with New York State and CDC Guidance. If you are not fully vaccinated please wear a mask. Continue to maintain social distance. * *