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CDs & IRAs

Account Type Minimum Opening Deposit Interest Payments Interest Penalty for Early Withdrawal
3 Month CD $1,000.00 Paid at Maturity ** Total Interest Earned
6 Month CD $1,000.00 Paid at Maturity ** 3 Months
1 Year CD $1,000.00 Paid Semi-Annually ** 3 Months
2 Year CD $1,000.00 Paid Semi-Annually ** 6 Months
3 Year CD $1,000.00 Paid Semi-Annually ** 6 Months
4 Year CD $1,000.00 Paid Semi-Annually ** 6 Months
5 Year CD $1,000.00 Paid Semi-Annually ** 6 Months
1 Year IRA * $50.00 Paid Semi-Annually 3 Months

* Traditional, ROTH or SEP retirement plans are offered. Please consult your tax advisor for information on which plan will best suit your needs.

** CDs may have interest paid by compounding, interest check, or deposited to an Adrian Bank account.

Automatically renewable CDs have a ten day grace period during which the deposit may be redeemed without incurring the early withdrawal penalty.

Non-renewable CDs will not automatically renew at maturity. If you do not renew the account, interest will not accrue after maturity.

Important Information About Procedures for Opening a New Account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We will also ask to see your driver’s license or other identifying documents.