Traditional CDs & Money Markets
Certificates of Deposit
- Lock in a higher rate of fixed interest
- Terms of 3 months up to 10 years
- Short term CD's pay simple interest (3 months up to 1 year)
- Long term CD's pay interest that is compounded monthly
- Interest can be deposited directly into a checking or savings account
- Automatic Renewals
- With tiered interest rates, the more you save, the more you can earn
Premier Money Market
- With Tiered interest rates, the more you save, the more you can earn
- Unlimited withdrawals in person or with your ATM card
- Up to three checks allowed per month
- Telephone transfers to other Brentwood Bank accounts
For current rates please call 412-409-RATE (7283)
CDARS - Get FDIC Insurance on up to $50 Million in Deposits
CDARS® is the Certificate of Deposit Account Registry Service®. It's the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million. CDARS is the perfect solution for many depositors - from non-profits and public funds to businesses and advisors (including trustees, CPAs, financial planners and attorneys). Almost anyone who wants to combine the convenience of working with one financial institution with the security of FDIC insurance can benefit from CDARS.
Key Features
One Bank: You work with Brentwood Bank - a local institution you know and trust - to secure large deposits (from $10,000 to $50,000,000).
One Rate: You earn one interest rate on CD investments placed through CDARS. With CDARS, there is no need to negotiate multiple rates.
One Statement: You receive one monthly statement detailing you CD investments.
How CDARS Works
Brentwood Bank can offer CDARS, because we are part of a special network of over 2,000 financial institutions across the country.
When you enroll in the program and place a large deposit with us, we use CDARS to place your funds into certificates of deposit issued by banks in the network. This occurs in increments of less than $100,000 to ensure that both principal and interest are eligible for full FDIC insurance.
Other network members do the same thing with their customers' deposits. With the help of a sophisticated matching system, network members exchange funds. This occurs on a dollar-for-dollar basis, so that the equivalent of your original deposit comes back to Brentwood Bank, and can be utilized to support lending initiatives in our local communities.
For more information please feel free to contact one of our CDARS experts:
Barbara Provins
(412) 409-9100 X246
bprovins@brentwoodbank.com
Thomas Young
(412) 409-9100 X241
tyoung@brentwoodbank.com
The Index Powered CD
What is the Index Powered Certificate of Deposit?
This new product has similar features of a traditional bank CD, but combines the power of the Standard & Poor's 500 Index, allowing the investor to explore potentially higher earnings in the equity market. Interest is paid at maturity based upon the performance of the S&P 500 Index.****
Product Summary (Features & Benefits):
- Market-Powered Earning Potential* - CD pays 100% of the S&P 500's average rate of return over 51-month CD term (previously, Index Powered CDs paid up to only 90%); earnings are tied to the performance of the Standard & Poor's 500 Index (S&P 500®), allowing the CD to combine the upside earnings potential of an equities market investment with FDIC insurance protection.***
- Bank Guaranteed Return - protects you against market ups and downs; downside risk limited to a minimum 7.00% interest rate (1.61% annual percentage yield) when held to maturity (previous Index Powered CDs offered no guaranteed earnings);unlike almost any other conventional market investment, the Index Powered CD provides bank-guaranteed return of principal + a bank-guaranteed minimum return (when held to maturity)... and it's FDIC-insured***!
- CD pays whichever is GREATER: 100% of the S&P 500® return over the CD's 51-month term, or a minimum guaranteed 7.00% interest rate over that same period (equivalent to a 1.61% annual percentage yield); see product disclosure for complete details and return computation method.
- $1,000 minimum to invest, 51-month term (penalty for early withdrawal).
Why would I want to invest in the Index Powered CD?
Unlike investing in mutual funds or stocks (which do not guarantee your principal investment, let alone guarantee a minimum return,) the Index Powered CD offers BOTH bank-guaranteed return of principal AND a bank-guaranteed minimum return. In addition, there are no fees for participating in the CD.
Can I lose money with the Index Powered CD?
No, both your principal investment and a minimum return are guaranteed by the Bank, and insured by the FDIC (up to the standard $100,000).
Is it possible that I will end up with only the bank guarantee minimum return at the end of the 51-month CD term?
Yes, that is entirely possible. There is no way to predict how the
S&P 500 Index will perform over any given period in the future. Each investor must weigh the upside potential of this product against the downside risk (which in this case is limited to a bank-guaranteed minimum return).
Do you have additional information?
Before opening an Index Powered CD, you are required to read the Disclosure Statement. It is very informative and should be kept with your financial records.
Can I check my CD's performance?
Yes. Financial information will be posted daily at www.indexpoweredcd.com.
How do I open an account?
It's easy. Simply complete an account opening form provided by our Bank Representative at any of our three offices.
|
Brentwood Office 3635 Brownsville Road Pittsburgh, PA 15227 (412) 884-7000 |
Bethel Park Office 401 McMurray Road Bethel Park, PA 15102 (412) 833-5400 |
South Park Shops Office 5259 Library Road Bethel Park, PA 15102 (412) 833-5455 |
Summary Product / Service Disclosures
Offer may be withdrawn without notice. Additional terms, conditions and restrictions apply. See product disclosure here (Disclosure Statement) for complete offer details and return calculation method. Or, you may obtain a printed copy of the Disclosure Statement from any Bank Branch Office.
Because market investments may not be suited for all investors, Brentwood Bank will provide to any prospective Index Powered CD customer a "no obligation consultation" with an investment advisor prior to CD purchase, to ensure product appropriateness and suitability, and at absolutely no cost to the prospective CD customer.
*$1,000 minimum to invest, 51-month CD term. Penalty for early withdrawal. This Index Powered ® CD (IPCD) is tied to the performance of the Standard & Poor's 500 Index (S&P 500®), and pays the greater of either 100% of the S&P 500® return over the CD's 51-month term, or a minimum guaranteed 7.00% interest rate (1.61% APY) over that same period. 7.00% interest rate over a 51-month period is equivalent to a 1.61% annual percentage yield (APY). The Market Rate of interest for any IPCD is based solely on the arithmetic average of the closing values of the S&P 500 Index on the nine applicable (semi-annual) Pricing Date for each specific IPCD offering.
**Return of principal plus a minimum return of a 7.00% interest rate (equivalent to a 1.61% annual percentage yield) is guaranteed by the Bank when held to maturity.
***This product will be insured by the Federal Deposit Insurance Corporation (FDIC) to a maximum amount of $100,000 for each depositor, subject to FDIC regulations.
****"Standard & Poor's®" "S&P®" "S&P 500®" "Standard & Poor's 500"and "500" are trademarks of The McGraw-Hill Companies, Inc., and have been licensed for use by the Bank through Index Powered CD, Inc. This product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the product."
