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Incentive Time Certificates
Earn higher rates when you select one of our CDs.
Lock in a higher rate by investing your money for a
specified term.
Features/Benefits:
1. $500 minimum deposit to open account.
2. Terms range from three months to eight years.
3. Rates are fixed for term of certificate.
4. Interest is credited and compounded quarterly.
5. Interest can be mailed to you or deposited into a savings account with
us.
6. Each depositor is insured by the FDIC up to $100,000.
7. Maturity notices are mailed to remind you when your certificate is
coming up for renewal.
8. Convenient 10 day grace period gives you time to decide if you want
to renew or redeem your certificate without penalty.
9. A penalty may be imposed if you withdraw from your certificate before
maturity:
30 days' interest for terms less than 6 months.
90 days' interest for terms 6 months to 1 year.
180 days' interest for terms greater than 1 year.
10. Please refer to our CD Disclosures and Fee Schedule for additional
information and terms.
Heritage Time Certificates
Special rate CDs for customers age 55 and over.
A Time Certificate with special features designed for
savers age 55 or older. Lock in a higher rate by investing your money
for a specified term.
Features/Benefits:
1. $2,500 minimum deposit to open account.
2. Terms range from three months to eight years.
3. Rates are fixed for term of certificate.
4. Interest is credited and compounded monthly.
5. Interest can be mailed to you or deposited into a savings account with
us.
6. Each depositor is insured by the FDIC up to $100,000.
7. Maturity notices are mailed to remind you when your certificate is
coming up for renewal.
8. Convenient 10 day grace period gives you time to decide if you want
to renew or redeem your certificate without penalty.
9. A penalty may be imposed if you withdraw from your certificate before
maturity:
30 days' interest for terms less than 6 months.
90 days' interest for terms 6 months to 1 year.
180 days' interest for terms greater than 1 year.
10. Please refer to our CD Disclosures and Fee Schedule for additional
information and terms.
Jumbo Time Certificates
Earn competitive rates for deposits of $100,000 or more.
Short term Time Certificates with competitive rates for
balances of $100,000 or more.
Features/Benefits:
1. $100,000 minimum deposit to open account.
2. Terms range from 31 to 365 days.
3. Rates are fixed for term of certificate.
4. Interest is credited monthly.
5. Interest cannot remain on deposit. Interest will be paid to you monthly.
You may have interest either mailed to you or deposited into a savings
account with us.
6. Each depositor is insured by the FDIC up to $100,000.
7. Maturity notices are mailed to remind you when your certificate is
coming up for renewal.
8. Convenient 10 day grace period gives you time to decide if you want
to renew or redeem your certificate without penalty. (For certificates
with a term of one month or less, there is a two business day grace period.)
9. A penalty may be imposed if you withdraw from your certificate before
maturity:
15 days' interest if term is 31-90 days.
30 days' interest if term is 91-180 days.
90 days' interest if term is 181-364 days.
180 days' interest if term is 365 days or longer.
10. Please refer to our CD Disclosures and Fee Schedule for additional
information and terms.
Variable Jumbo Time Certificates
Short term CDs with competitive rates for deposits
of $250,000 or more.
Time Certificates that offer competitive rates and shorter
terms for deposits of $250,000 or more.
Features/Benefits:
1. $250,000 minimum deposit to open account.
2. Terms range from 7 to 365 days.
3. Rates are fixed for term of certificate.
4. Interest is credited quarterly.
5. Interest cannot remain on deposit. Interest will be paid to you quarterly.
You may have interest either mailed to you or deposited into a savings
account with us.
6. Each depositor is insured by the FDIC up to $100,000.
7. Maturity notices are mailed to remind you when you certificate is coming
up for renewal.
8. Convenient 10 day grace period gives you time to decide if you want
to renew or redeem your certificate without penalty. (For certificates
with a term of one month or less, there is a two business day grace period).
9. A penalty may be imposed if you withdraw from your certificate before
maturity:
All interest if term is 30 days or less.
15 days' interest if term is 31-90 days.
30 days' interest if term is 91-180 days.
90 days' interest if term is 181-364 days.
180 days' interest if term is 365 days or longer.
Certificate of Deposit Account Registry Service
FDIC Insurance coverage for CD deposits over $100,000.
Now your CD deposits over $100,000 could be eligible
for full FDIC insurance through our new Certificate of Deposit Account
Registry Service (CDARS) that places large deposits into smaller-denomination
CDs at multiple institutions.
Features/Benefits:
1. Safety of FDIC insurance for your eligible deposits.
2. CD interest rates based on the maturity lengths you choose.
3. Monthly statements list all your CDs.
4. Consolidated tax statement at the end of each year.
5. Personal information is protected; your CDs are identified only by
a tracking number so other financial institutions can't intrude upon your
relationship with Finance Factors.
6. A penalty may be imposed if you withdraw from your certificate before
maturity.
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