Rate and Yield Information

Deposit Rates

• Your interest rate and annual percentage yield may change at any time at our discretion.
• Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). We will receive credit for checks drawn on other financial institutions based on the general availability schedule established by either the Federal Reserve Bank or its appropriate branch for the district in which we are located.
• Interest is compounded daily and will be credited monthly.
• If you close your account before interest is credited, you will receive the accrued interest (except for NOW Checking Accounts).
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal balance each day (the collected principal balance is that portion of the balance for which we have received credit).
• Interest is paid on the collected principal balance at the interest rate that corresponds to that deposit tier.
• On all Money Market and Savings Accounts, the depositor is permitted to make no more than six transfers per statement cycle to another account or to a third party by means of a preauthorized, automatic, telephone or Internet transfer, or by check, draft, debit card or similar order.
• Premier Money Market is reserved for funds not on deposit in an existing Sturdy Savings Bank account. A checking account relationship with Sturdy Savings Bank is required to be eligible to open a Premier Money Market account.

Certificates of Deposit****

• The interest rate will be paid until the maturity date of your certificate, except for 18 Month Variable Rate Certificates or if you select the Excel-A-Rate Option.
• Additions to 18 Month Variable Rate Certificates are permitted in any amount at any time. Interest rate and annual percentage yield may change at any time at our discretion.
• Interest is compounded daily and will be credited monthly. Interest for Jumbo certificates will only be credited at maturity.
• Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
• All certificates will automatically renew at maturity. Except for Jumbo certificates, you will have seven (7) calendar days from the maturity date to withdraw funds without being charged a penalty. Jumbo certificates do not have a grace period and funds may only be withdrawn without a penalty on the maturity date.
• After the certificate is opened, you may not make deposits (except for 18 Month Variable Rate Certificates where deposits are permitted) or withdrawals other than earnings until the maturity date.
• Interest can accumulate for compounding or be withdrawn by interest check or transferred to another deposit account.
• We use the daily balance method to calculate the interest on your certificate. This method applies a daily periodic rate to the principal each day.
• IRA Certificates of Deposit are available in terms ranging from one year through five years.
• If any of the deposit is withdrawn before the maturity date, a penalty as shown below will be imposed which could result in a partial loss of principal.

Excel-A-Rate Option (3 year) You may direct us to increase the interest rate on this certificate once during its initial term and one time during each subsequent term to the prevailing rate on the certificates with the same maturity as originally issued. You must request the rate increase in person and sign a written authorization. The new interest rate will be effective as of the date of your signature.

Fee Schedule