Common use of Account Description Clause in Contracts

Account Description. This account is a term share account with a maturity of two (2) years or four (4) years in which the member generally does not have the right to make withdrawals for six (6) days after the account is opened unless an early withdrawal penalty is imposed. If the rate increases during the term of the CD, you can request the credit union to “bump up” the rate one time during a two (2) year CD or twice during a four (4) year CD.

Account Description. This account is a term share account with a maturity of two (2) years or four (4) years in which the member generally does not have the right to make withdrawals for six (6) days after the account CD is opened unless an early withdrawal penalty is imposed. If the rate increases during the term of the CD, you can request the credit union to “bump up” the rate one time during a two (2) year CD or twice during a four (4) year CD.