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Old Glory Bank Prosperity 12-Month CD

Exclusively for customers of Old Glory Bank, we bring you the Old Glory Bank Prosperity 12-Month CD!

If you have an existing Old Glory Bank account, including our Freedom Checking account, Freedom Savings account, Premium Checking account, or Liberty Business account, you can transfer funds from your existing account to fund your CD Account. 

To open a CD account: 

  • Visit our website at oldglorybank.com/cd to review the account details and terms, including Annual Percentage Yields (APY). The APY will remain the same for your CD term, and interest begins accruing on the date the account is funded. Your CD Account term will begin when your CD is funded and will mature on the first anniversary (1 year) from that initial funding date. 
  • Call our customer service team at 888-446-5345, Monday-Saturday, 8-8 CT. 
  • You must fund your CD Account by transferring funds from your existing Freedom Checking, Freedom Savings, Premium Checking Account, and/or Liberty Business account, subject to the minimum and maximum amounts allowed.
  • The minimum amount to open a CD is $2,500.00. The maximum amount is limited to $250,000.00 per depositor. For example, if there are two customers on a joint CD account, the maximum amount is $500,000.00. 

To view the details of your CD:

  • Click on the CD account in your online banking portal, then Details & Settings to see the balance, interest rate, interest earned, and maturity date for your CD. 

  • Statements: CD Accounts do not have mailed or electronic statements, but you can view maturity notices from the Statements & Tax Forms tab on the main menu. Click the link, then view your CD account that will be listed under Savings. Click on "View associated notices and year-end tax forms." 

To Close Your CD account:  

You may close your CD for any reason without penalty during the first 10 calendar days from its initial funding.

After the first 10 calendar days from initial funding, you may close your CD without penalty:

  • Upon maturity.   
  • During the grace periods, which are either 10 days from initial funding or within 10 days of renewal (at maturity).   

*You may close your CD for any reason during the first 10 calendar days from its initial funding. However, if you choose to close your CD Account before maturity, early withdrawal penalties may apply.   

To Withdraw Your Funds: 

Call our customer service representatives at 888-446-5345 and request an account-to-account transfer or a check mailed to you at your address of record with the Bank. You cannot use a check, a debit card, or send an ACH or Wire to obtain permitted withdrawals from a CD Account.  

Note: Unless you have provided us instructions for withdrawal or transfer, on the maturity date, your CD will automatically renew to a CD Account of an equal term (1 year) at the current APY for our CD Accounts, as shown on www.oldglorybank.com/cd at that time. You will have a grace period of 10 calendar days, beginning on the maturity date, to add or withdraw funds without incurring an early withdrawal penalty. We will provide a pre-renewal reminder.

 

Fees and penalties: 

  • No Maintenance Fee: There is no monthly maintenance fee for a CD. 
  • Early Withdrawal Penalty: If you make an early withdrawal before maturity, you will pay an early withdrawal penalty equal to 90 days of interest on the amount of your withdrawal request. The penalty is calculated using the interest rate applicable to your CD Account.   
  • Exception: We will waive an early withdrawal penalty for the following reasons:  
  1. Any account owner on such a CD Account dies. 
  2. Any account owner on such a CD Account is judicially declared legally incompetent.