CDs and IRAs

We offer varying rates and terms from one month to 10 years. CD features include:

• Low minimum opening balance of $500.00
• Enhanced interest rates on CDs over $100,000.00
• Three interest options
  • Receive monthly interest check
  • Deposit to another SS&L account
  • Interest can be compounded

CDs, Special CDs, and IRAs

• $500.00 minimum balance required to open a CD account, $250.00 minimum balance required to open an IRA account
• Early withdrawal penalty may apply
• $100,000.00 or more required to earn the Jumbo CD rate

Certificates of Deposit

• $500.00 minimum balance required to open account
• Early withdrawal penalty may apply
• $100,000.00 or more required to earn the Jumbo CD rate

Jumbo Certificates of Deposit

Call today to hear our Jumbo Certificate of Deposit rates!

• $100,000.00 or more required to earn the Jumbo CD rate
• Early withdrawal penalty may apply

IRAs

Our Individual Retirement Accounts have also become a customer favorite. We offer varying terms and rates ranging from one month to 10 years. IRA features include:

• Low minimum opening balance of $250.00
• Once term is selected, rate is fixed until maturity
• Contributions may be tax deductible, consult a tax advisor

Disclosures

Certificate of Deposit:

• Fixed Rate Account: The interest rate on this account is fixed. You will be paid this rate until the maturity date of the certificate.
• Compounding and Crediting: Certificates with terms of less than 1 year will earn interest on a non-compounded basis and may be credited monthly or at maturity. Certificates with terms of 1 year or longer will be compounded and credited on a semi-annual basis unless monthly checks or transfers are taken. In this case, interest will be earned on a non-compounded basis.
• Minimum Balance Requirements:
  • To open the account: You must deposit $500.00 to open the account.
  • To obtain the annual percentage yield disclosed: You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.
• Balance Computation Method: We use the daily balance method to calculate the interest on your account. The method applies a daily periodic rate to the principal in the account each day.
• Accrual of Interest on Non-Cash Deposits: Interest begins to accrue on the business day you deposit non-cash items. (for example, checks).
• Transaction Limitations: You may not make deposits into your account until the maturity date.
• When Your Account Will Mature: See your local Slovenian Savings & Loan Branch to determine the maturity date or term needed to obtain the annual percentage yield stated.
• Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal before the maturity date. The amount of the penalty is as follows:
  • Minimum penalty of $25.00
  • Certificate Term of less than 3 months– penalty of 1 month of interest.
  • Certificate Term of greater than 3 months up to and including 1 year– penalty of 3 months of interest.
  • Certificate Term of greater than 1 year up to and including 2 years — penalty of 6 months of interest
  • Certificate Term of greater than 2 years — penalty of 12 months of interest
  • Any withdrawal which reduces the account balance below the minimum balance requirement shall be considered as a withdrawal of the entire account balance and shall be subject to the penalty prescribed above.
• Special IRA Account Provisions: If the funds deposited in a certificate account are to open an Individual Retirement Account, no penalty will be imposed for any withdrawal that is made within 7 days of establishing an IRA account. In addition to any penalty that we may impose for early withdrawal, under certain circumstances, there may be an additional IRS penalty. See your Retirement Account Documents for details.
• Withdrawal of Interest Prior to Maturity: The annual percentage yield disclosed in the rate section assumes interest will remain on deposit until maturity. Any withdrawal will reduce earnings.
• Renewal of Account: Your account will automatically renew at maturity. You will have 7 calendar days after the maturity date to withdraw your funds without being charged a penalty.