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News & Information

Happenings and Dates to Remember

Fosston Rotary 5K will be held on Saturday, May 3rd at 10:00 a.m. with a kidís 1K at 9:30.

Highway 2 Cruisers annual car show is Saturday, August 23, from 10:00 to 2:00.

First Care Foundationís 4th Tango & Cash will be held on Saturday, October 18, at the Fosston Civic Center.

 

 

 

 

      

 

 

 

 

 

 

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Current Rates - Certificates of Deposit

 

Ultima Bank Minnesota offers a full spectrum of investment products with very competitive rates. Quite often, depending on our loan demand, we offer "Special" rates and terms on our Certificates of Deposit ("CDs") that are exceptionally competitive, as noted below:

Certificates of Deposit

Certificate of Deposit Specials - Rates through April 25, 2014
Terms Interest Rate (In %) Annual Percentage Yield
(APY In %)
12 Months 0.50 0.50
30 Months 1.00 1.00

 

Terms Interest Rate (In %) Annual Percentage Yield
(APY In %)
3 Months 0.15 0.15
6 Months 0.20 0.20
9 Months 0.25 0.25
12 Months 0.35 0.35
18 Months 0.40 0.40
24 Months 0.65 0.65
36 Months 0.80 0.80
48 Months 1.10 1.10
60 Months 1.40 1.40

Minimum CD Amount $1,000

Interest Computation- You will be paid the interest at the stated rate for the term you choose until the maturity date of the certificate. Interest accrual begins on the first business day after the day we receive your deposit then credited to your account at maturity for the 3,6 and 9 month certificates and compounded and credited to your account every six months for the 12 month through 60 month certificates. The annual percentage yield (APY) assumes the interest remains on deposit until maturity and that any withdrawals will reduce earnings.
Balance Computation Method- We use the daily balance method to calculate the interest on your account. This method applies to a daily, periodic rate to the principal in the account each day.
Transaction Limitations- After the account is opened, you may not make deposits into or withdrawals from the account until maturity date.
Early Withdrawal Penalty- If we consent to a request for a withdrawal that is otherwise not permitted, you may have to pay a penalty. The penalty for such withdrawal of any CD with a term to maturity of 12 months or less will be an amount equal to one month of interest. The penalty for early withdrawal of all other CD's will equal three months of interest.
Renewal Policy- This account will be automatically renewed at maturity. You will have a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty.

 Rates are accurate as of  .