A Certificate of Deposit (CD) is a formal receipt for a specified amount of money deposited with the bank. It is a savings option that allows individuals or businesses to deposit a specified sum of money at a fixed rate for a fixed term.
Minimum balance to open the account
You must deposit at least $500.00 to open a CD account.
Account terms available
CDs offered by First United National Bank are available for terms of 91 days,182 days, 9 months, 12 months, 18 months, 24 months, 30 months, 36 months, 48 months, and 60 months.
Rate information
Your interest rate and annual percentage yield are fixed for the term of the CD. We will pay the rate for your account until the first maturity date.
Interest payment options
Interest may be compounded and credited to your account quarterly if the term of the CD is 9 months or longer. For CDs of any term, interest may be paid by automatic deposit to a checking or savings account on a monthly, quarterly, or semi-annually frequency. Interest may also be paid by check, with the frequency of payment depending on the initial amount of the CD. Semi-annual checks can be issued for CDs of any amount. Quarterly checks can be issued for CDs of $1,000 or more. Monthly checks can be issued for CDs of $5,000 or more.
Daily Balance computation methods
We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
Interest begins to accrue on the same business day you deposit noncash items (for example, checks).
Time requirements
Your CD will mature at the end of the stated term.
Withdrawal limitations
You may not make withdrawals of principal from your account before maturity. For CDs with a term of 9 months or longer, you can withdraw interest that has been credited to the account during the current term.
Withdrawal of interest before maturity
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Early withdrawal penalty
If we consent to a request for a withdrawal that is otherwise not permitted you may have to pay a penalty. For an account with an original term of 12 months or less, the penalty will be 90 days interest on the amount withdrawn. For an account with an original term of more than 12 months, the penalty will be 180 days interest on the amount withdrawn. We will charge the penalty first against any interest in the account, and any excess will be deducted from the amount you withdraw. There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty.
Additions to account
You may not make any deposits into your account until maturity.
Renewal policy
CDs will automatically renew at maturity. You will have a 10 calendar day grace period following the maturity date to withdraw funds without a penalty.
Renewal terms
Each renewal term will be the same as the original term, beginning on the maturity date. The interest will be the same rate we offer on the maturity date for CDs which have the same term as the original account.
One of the following forms of documentation is required to open a new business CD account: Sole Proprietorship Resolution of Authority; Partnership Resolution of Authority; Corporate Authorization Form; or Resolution of Lodge, Association, or Another Similar Organization. Blank copies of these forms are available from the new accounts representative of each office.
Member
FDIC
Contact Information
- Telephone
- (814) 354-7311
- FAX
- (814) 354-7372
- Postal address
- PO Box 7, Fryburg, PA 16326
- Electronic mail
- General Information: funb@venustel.com
Webmaster: funb@venustel.com - 24 Hour Telephone Banking Service
- FON FUNB
- (Toll Free) 866-366-3862
- (Local) 814-354-7369
- Internet Banking Service
- www.fun-bank.com