 | The interest rates and annual percentage yields (APYs)
are published monthly in the rate sheet, available at any MWBank location. They may change at any time Interest rate and
APY information will be provided to you prior to opening your
certificate. |
| See your investment certificate receipt for the
interest rate and APY for your Certificate of Deposit. |
| Interest is calculated using the daily balance
method. This method applies a daily periodic rate to the balance in
the account each day. |
| Interest is calculated based on a 365-day year. |
| Interest begins to accrue no later than the business
day we receive credit for the deposit of non-cash items (for example
checks). |
| The Annual Percentage Yield (APY) assumes interest
will remain on deposit until maturity. Any withdrawals will reduce
earnings. |
| Interest paid by addition to principal may be
withdrawn at any time during the term of the deposit without penalty.
However, if the deposit has been automatically renewed, interest
credited to the principals from pervious terms will be considered part
of the principal and cannot be withdrawn without an interest penalty. |
Maturing/Renewing Certificates
All certificates are automatically renewing and
will renew on the maturity date at the prevailing rate of interest being
paid on such deposits at the time of renewal for successive periods each
equal to the original term, unless otherwise disclosed at opening. The
bank may refuse to renew the deposit or change the renewal terms by
providing you with a written notice of non-renewal or change thirty (30)
days prior to maturity.
Penalty for Early Withdrawal
You contract with the bank to keep funds on deposit for
the time period stated on your investment certificate receipt. You may not
withdraw any part of the funds prior to the stated maturity without
consent of the Bank, except on request after the death of a depositor, or
where a depositor has been judicially declared incompetent. If the Bank
permits early withdrawal of funds from a Certificate of Deposit before
maturity (except as stated with the terms of the certificate), the penalty
for withdrawal will be imposed as shown in the produce description.
See Deposit Account
Rules for additional disclosures and for more information contact us or call 1-800-980-9277
during normal business hours.
