Certificates of Deposit
| Account | Certificate of Deposit | Easy Access CD | Certificate of Deposit Account Registry Service (CDARS®) | Insured Cash Sweep (ICSsm) |
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| Description |
A great alternative to a traditional savings account. This is ideal if you want a higher rate with a guaranteed return and do not need regular access to your money. |
Provides easy access to your money with a short six month term and the flexibility to make additional deposits and a withdrawal. |
Keep your large deposits safe with access to FDIC protection on multi-million dollar CD investments. Your deposit is placed into certificates of deposit issued by CDARS® network banks with the CDARS® service. You can choose from a variety of terms to fit your needs.
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Can be a valuable cash management or longer-term investment tool for you2. Access multi-million dollar FDIC protection by working directly with just one bank. Provides flexibility and allows your funds to earn interest with no minimum balance requirements.
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| Minimum Balance to Open |
$500 |
$500 |
Any Amount |
Any Amount |
| Features |
- Lock in your interest rate for one month up to five years
- FDIC Insured
- Free 24-Hour Easy Phone Banking service
- You may not make additional deposits into this account
- Penalty for early withdrawal of funds prior to the maturity date
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- 6 month term
- Unlimited deposits of $500 or more
- FDIC Insured
- Free 24-Hour Easy Phone Banking service
- One withdrawal of principal, without penalty, during the 6 month term
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- Access multi-million dollar FDIC insurance coverage.
- Work directly with us and earn one interest rate per maturity and receive one regular statement, and one year-end tax form.
- Community Investment. The full value of your money can support lending opportunities in your local community1.
- Earns CD-level returns which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts, and money market funds.
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- ICS funds are eligible for multi-million-dollar FDIC insurance, protection that's backed by the full faith and credit of the United States government.
- Earn Interest on ICS funds placed into demand deposit accounts using the demand option or money market deposit accounts using the savings option.
- Access Funds through unlimited program withdrawals (using the ICS demand option) or up to six program withdrawals per month (using the ICS savings option).
- Community Investment. The full value of your money can support lending opportunities in your local community3.
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1Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement and Custodial Agreements with Katahdin Trust Company. The agreements contain important information and conditions regarding the placement of funds by us. When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositor's local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.
2Placement of your funds through the ICS service is subject to the terms, conditions, and disclosures set forth in the agreements, including the ICS Deposit Placement Agreement, that you enter into with us. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month when using the ICS savings option. 3If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor's funds through Insured Cash Sweep, or a particular ICS transaction, satisfies those restrictions.
CDARS, Certificate of Deposit Account Registry Service, ICS, and Insured Cash Sweep are registered service marks of Promontory Interfinancial Network, LLC.
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