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FDIC Deposit Insurance Coverage

Deposits at FDIC insured institutions such as Pendleton Community Bank are insured up to $250,000 per depositor, per depository institution, for each account ownership category.

Click here to use the FDIC 'EDIE the Estimator' deposit insurance calculator, OR click on RATES and FDIC-EDIE the Estimator in the above toolbar. FDIC 'EDIE the Estimator' is designed to help you determine your deposit insurance coverage.

Click “More Info” to learn more about each account.

Account Type Minimum
Opening
Balance
Interest
Payments
Interest
Bearing*
6 and 12 Month Certificate of Deposit
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Info
$500 Compounded Daily and
Credited either at Maturity or Quarterly depending on the term
Yes
18 Month to 5 Year Certificate of Deposit
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Info
$500 Compounded Daily and
Credited Quarterly
Yes
SMART Account
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Info
$100.00 6-month interest penalty if funds are withdrawn before high school graduation Calculated on the daily balance.

6 AND 12 MONTH CERTIFICATE OF DEPOSIT

  • 6 and 12 month CD’s are interest bearing accounts. Click below for current rates: The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for the term of the certificate of deposit. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will be compounded daily and will be credited at maturity or quarterly, depending on the term. We will mail the interest in a check to you or deposit the interest in an account that you designate. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • $500.00 deposit required to open this account. You cannot make additional deposits into this account or make withdrawals from your account until the maturity date.
  • You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield. We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
  • Withdrawal of any principal before the maturity date on a 6 month CD could result in a penalty of thirty days (30) interest on the amount withdrawn. Withdrawal of any principal before maturity on a 12 month CD could result in a penalty of ninety-one (91) days interest on the amount withdrawn.
  • Account will automatically renew. You will have 10 calendar days after the maturity date to withdraw funds without a penalty.

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18 MONTH TO 5 YEAR CERTIFICATE OF DEPOSIT

  • Interest bearing account. Click below for current rates: The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for the term of the certificate of deposit. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will be compounded daily and will be credited quarterly. We will mail the interest in a check to you or deposit the interest in an account that you designate. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield. We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
  • $500.00 deposit required to open this account. You cannot make additional deposits into this account or make withdrawals from your account until the maturity date.
  • Withdrawal of any of the principal before the maturity date could result in a penalty of up to six (6) months interest on the amount withdrawn.
  • Account will automatically renew. You will have 10 calendar days after the maturity date to withdraw funds without a penalty.

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SMART ACCOUNT

  • Interest bearing account. For current SMART savings account rates Click Here.
    We may change the interest rate on this account the first day of each month. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
  • $100 deposit is required to open an account.
  • Withdrawal of funds from this account by the depositor, for any reason, before the graduation of the named student from high school, will result in a penalty equal to 6 month’s interest on the amount withdrawn, even though the account may not have earned that much interest.
  • Withdrawals of funds from this account after the student has graduated from high school shall be allowed at any time and in any amount without penalty.
  • This account must be closed no later than 90 days after the student’s graduation from college or withdrawal from college, or within 90 days of graduation from high school if the student does not enter college. Pendleton Community Bank shall not be responsible for the manner in which funds withdrawn from this account are used after paying the funds to the depositor.
  • Account will mature in 120 months. If you withdraw any of the principal before the maturity date, we will impose a penalty of six (6) month’s interest on the amount withdrawn if prior to high school graduation. This account will automatically renew.

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