CERTIFICATE OF DEPOSIT

The Bank of Monroe’s Certificate of Deposits (CD) offers a secure investment with a guaranteed rate of return. You may select a fixed-rate certificate of deposit from the following maturity ranges:

  • 6-Month Certificate
  • 12-Month Certificate
  • 18-Month Certificate
  • 24-Month Certificate
  • 36-Month Certificate
  • 48-Month Certificate
  • 60-Month Certificate

Please contact us at 304-772-3034 (Union) or 304-645-2000 (Lewisburg) or 304-645-7575 (Fairlea) for our current rates.

  • Minimum balance to open the account: $500.00
  • Rate Information: Interest Rate will be fixed for the term of CD.
  • Transaction Limitations: No transactions allowed
  • Early Withdrawal: A penalty will be assessed for early withdrawal.

Certificate of Deposits are Automatically Renewed at the current rate at time of maturity. A notice of maturity will be sent to you 10 days prior to maturity to notify you of the interest rate which the Certificate will renew at. To prevent the Certificate from renewing automatically, you will need to withdraw the funds at maturity or you have a 10 day grace period after maturity without penalty.

There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty.

INDIVIDUAL RETIREMENT ACCOUNTS (IRA)

With an IRA Certificate of Deposit, you defer tax payments on your interest earnings as you build for a secure retirement. Invest in an IRA account with The Bank of Monroe and see why it truly pays to plan ahead.

  • Minimum opening balance: $500.00
  • Rate Information: Interest Rate will be fixed for the term of the IRA
  • Transaction Limitations: No transactions allowed
  • Early Withdrawal: *Tax penalty may apply; Please check with your tax advisor

Individual Retirement Accounts are Automatically Renewed at the current rate at the time of maturity. A notice of maturity will be sent to you 10 days prior to maturity to notify you of the interest rate which the IRA will renew at. To prevent the IRA from renewing automatically, you will need to withdraw the funds at maturity or you have a 10 day grace period after maturity without penalty.

CUSTOMER NOTICE
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 may also ask to see your driver’s license or other identifying documents.

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