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NOW OFFERING... 24 Month Bump-Up Certificate of Deposit



Wallkill Valley Federal S & L Association

23 Wallkill Avenue | P.O. Box 290 | Wallkill, NY 12589-0290


This disclosure contains information about terms, fees, and interest rate for the 24 Month Bump-Up CD we are offering. Interest Rates and Annual Percentage Yields are current as of March 12, 2014

For current rate information call (845) 895-2051 


  • A twenty four month Bump-Up CD with continuous compounding.


  • Rate Information: This account is an interest bearing account.  The Interest Rate on the account is .70% with an annual percentage yield of .71%.  The interest rate and annual percentage yield will not change for the term of the account.  The interest rate will be in effect for twenty four months.  Interest begins to accrue on the business day that you deposit non-cash items (for example, checks).  Interest will be compounded continuously and will be credited quarterly.


  • Bump Interest Rate Information: You may choose to update or “Bump” the interest rate on a 24 Month CD to the prevailing interest rate of either our 30 Month Certificate,  48 Month Certificate, or 60 Month Certificate. The “Bump” option can only be exercised once during the term of the certificate.
  • Balance Information: We use the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day.  You must maintain a minimum balance in the account of at least $ 2,500.00 each day to obtain the disclosed annual percentage yield.
  •  Limitations: You must deposit at least $ 2,500.00 to open this account.  Additional deposits are only permitted at maturity.   


  • Time Account Information: Your account will mature in 24 month.  If you withdraw any of the principal before maturity date we may impose a penalty of (6) six month’s  interest, whether earned or not.   The annual percentage yield assumes interest compounds continuously and will remain on deposit until maturity.  A withdrawal will reduce earnings.  The account will automatically renew  You will have (7) Calendar days after the maturity date to withdraw funds without penalty.



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