Product Specials

Inflation Tamer CD™

Are you worried that interest rates will start to rise and you’ll be stuck with a low rate or be penalized for moving to a higher rate? You can open an Inflation Tamer CD™  with us now and in the future increase the rate to keep up with inflation.

Our Inflation Tamer CD™ is a certificate of deposit that is available for personal, business or not for profit customers.  It is also available as an Individual Retirement Account (IRA) investment.

Using our Inflation Tamer CD™ is simple.  As interest rates start to rise, you can increase your rate one time during the term of your Inflation Tamer CD™.  You can make your election to increase your interest rate on an anniversary date of the date your Inflation Tamer CD™ was issued.*   After adjustment, your interest rate for the remaining term of your Inflation Tamer CD™ will be based on the current market interest rate for our certificates of deposit that are equal to the remaining term of your Inflation Tamer CD™.

Since a certificate of deposit is a “time” deposit with a term, penalties may apply to withdrawals made prior to the deposit’s maturity date.  For our 'Jumbo' certificates of deposit, no early withdrawal is permitted.  Consult your account agreement at account opening for details.

Other features of the Inflation Tamer CD™:

  • Interest is paid monthly.
  • It can be viewed with Online Banking.
  • Inflation Tamer Certificate of Deposit Terms:
    • 24 month term
    • 36 month term
    • 48 month term
  • The Inflation Tamer CD™ will not automatically renew.

 Call us at 734-761-1475 for more details!

 

*Rate Increase Option:  Effective on an annual anniversary of this Certificate of Deposit (CD), you may request that we increase the rate to a rate we offer for CD’s with a term equal to the remaining term of the CD.  The increase only applies to the remaining term.  For CDs with terms of 2 years only one increase is permitted. For CD's with terms of 3 or 4 years, two increases are permitted.  You need to give us your written request to raise the rate 7 days in advance of the anniversary date of the CD.  The term of your CD will not be extended.   There is no fee for this option.  You will receive a disclosure for the new rate and APY (for the remaining term).