Certificates

 

Share Certificates

(amounts under $100,000.00)


12 Month Term – penalty for early withdrawal: 3 months dividends.

24 Month Term – penalty for early withdrawal: 6 months dividends.

36 Month Term – penalty for early withdrawal: 6 months dividends.

48 Month Term – penalty for early withdrawal: 6 months dividends.

60 Month Term – penalty for early withdrawal: 6 months dividends.


Minimum deposit on all certificates = $1,000.00

 

Additional Rate Information:

            Rates are paid monthly.

            Dividends will be compounded monthly.

            Dividends will be credited monthly and at maturity.

            The par value of a regular share in this Credit Union is $5.00.

            The dividend period on this term share account is monthly.

            Dividends begin to accrue on the business day you place any non-cash item (for example

a check) into your account.

            The annual percentage yield assumes that dividends remain in the account until maturity. 

A withdrawal of dividends will reduce earnings.

 

Balance Computation Method:

            We use the daily balance method to calculate the dividends on this account.  This method

                        applies a daily periodic rate to the principal in the account each day.

 

Transaction Limitations:

            NO ADDITIONS.  You cannot place additional funds to this account during a term

                        (other than credited dividends).

 

Renewal Policy:

            Single Maturity:  This account will not automatically renew.  No dividends will accrue after

                        the maturity date.

 

Definitions:

            “We”, “our”, and “us” mean the issuer of this account and “you” or “your” mean the owner(s) of the term of the account.  “Account” means the original certificate as well as the account funds evidenced by the certificate.

 

Transfer:

            “Transfer means any change in ownership, withdrawal rights, or survivorship rights, including (but not limited to) any pledge or assignment of this account as collateral.  You may not transfer this account without our written consent.