CDs and IRAs
Earn high interest rates on your money by investing in our Certificates of Deposit or one of our Individual Retirement Account investment plans we offer.
Certificates of Deposit (CDs)
| 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 12 months of inactivity |
Penalty for early withdrawal:
- For maturities of up to 6 months, an amount at least equal to 45 days interest earned or that could have been earned.
- For maturities of 6 months up to 12 months, an amount at least equal to 3 months of interest earned or that could have been earned.
- For maturities of 12 months up to 24 months, an amount at least equal to 6 months interest earned or that could have been earned.
- For maturities of 24 months or greater, an amount at least equal to 12 months of 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.
Individual Retirement Accounts (IRAs)
| Minimum opening deposit | $1000.00 |
| 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 If account is closed before interest, you will receive the accrued interest. | quarterly |
| Dormant account fee | $5 per month up to 12 months, after 12 months of inactivity |
Penalty for early withdrawal:
- For maturities of up to 6 months, an amount at least equal to 45 days interest earned or that could have been earned.
- For maturities of 6 months up to 12 months, an amount at least equal to 3 months of interest earned or that could have been earned.
- For maturities of 12 months up to 24 months, an amount at least equal to 6 months interest earned or that could have been earned.
- For maturities of 24 months or greater, an amount at least equal to 12 months of interest earned or that could have been earned.