Certificates of Deposit
|Account||Certificate of Deposit||Easy Access CD||Certificate of Deposit Account Registry Service (CDARS®)||Insured Cash Sweep (ICSsm)|
||A great alternative to a traditional savings account. It's ideal if you want a higher rate with a guaranteed return and don't need regular access to your money.
||Provides easy access to your money with a short 6 month term. Plus the flexibility to make additional deposits and one 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.
Use as a valuable cash management or longer-term investment tool2. 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.
|Minimum Balance to Open
- 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
- Choose from a variety of terms to fit your needs
- 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
- Earns CD-level returns which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts, and money market funds
- The full value of your money can support lending opportunities in your local community1
- ICS funds are eligible for multi-million-dollar FDIC insurance, protection
- 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)
- The full value of your money can support lending opportunities in your local community3
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.