|
Certificates of Deposit
| Minimum amount to open |
$1,000.00 |
| Interest rate |
Contact WCSB for details |
| Annual percentage yield (APY) |
Contact WCSB for details |
| Interest computation method |
varies per deposit |
| Interest compounding frequency |
varies per deposit |
| Interest crediting frequency |
varies per deposit |
| Additional deposits after account opening are not permitted |
|
| Dormant account fee |
$5 per month up to 12 months, after 60 months of inactivity |
Penalty for early withdrawal:
For maturities of 7-31 days the greater of: (1) all interest earned on the amount withdrawn from the most recent of the date of deposit or last renewal, or (2) all interest that could have been earned on the amount withdrawn during a period equal to ½ of the maturity period, or (3) an amount at least equal to 7 days interest earned.
For maturities of 32 days up to one year: an amount at least equal to one month of interest earned or that could have been earned.
For maturities of more than one year: an amount at least equal to three months interest earned or that could have been earned.
Renewal policy: if your certificate is SINGLE MATURITY and does not automatically renew, it must be presented promptly at maturity as no interest is payable after the maturity date.
Back to the top
Individual Retirement Accounts (IRA)
| Minimum opening deposit |
$100.00 |
| Interest rate |
Contact WCSB for details |
| Annual percentage yield (APY) |
Contact WCSB for details |
| Interest computation method |
daily balance* |
| Interest will be compounded |
quarterly |
| Interest will be credited |
quarterly |
| If account is closed before interest, you will receive the accrued interest. |
| Dormant account fee |
$5 per month up to 12 months, after 60 months of inactivity |
*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.
Penalty for early withdrawal:
For maturities of 7-31 days the greater of: (1) all interest earned on the amount withdrawn from the most recent of the date of deposit or last renewal, or (2) all interest that could have been earned on the amount withdrawn during a period equal to ½ of the maturity period, or (3) an amount at least equal to 7 days interest earned.
For maturities of 32 days up to one year: an amount at least equal to one month of interest earned or that could have been earned.
For maturities of more than one year: an amount at least equal to three months interest earned or that could have been earned.
Back to the top
|
• 
