Unified Bank

On 1/03/25, I called the Colerain branch and said two CDs were coming due tomorrow. I asked about the rate for a 13-month CD, which was what mine were. I was told it was 3.92%. I expressed a desire to renew mine and queried if I could just let them roll over. I was assured that I could. I also inquired if I needed to come in to enact this. I was informed that I did not need to.

Unexpectedly, I checked my CDs online on 3/04/25 and discovered that the two CDs were listed at only a .81% rate. The next day, I contacted the bank and was informed that when a CD is rolled over, it receives the lowest interest rate. I was taken aback as I had not been told that when I initially called to ask about the rate.

I protested that this seemed unacceptable, questioning what if I wanted to switch it out for the higher rate. I was informed that I would incur a penalty for early withdrawal. I am astounded that this occurred. Is there any recourse?

I, Janell Smallwood, am treasure for the Harrisville Ohio Methodist Church. We have over $207,000 in CDs with Unified, saved for a new church addition. Thank you.