Early Withdrawal Penalties. The Term Certificate Account will mature on the Maturity Date set forth in the Certificate. The Credit Union will terminate the Term Certificate Account and impose a penalty on the entire balance of the account if a withdrawal of principal is made prior to the Maturity Date. If the Term Certificate has a term to maturity equal to or less than one (1) year, the penalty imposed will equal ninety (90) days of dividends, whether or not earned. If the Term Certificate has a term to maturity greater than one (1) year, the penalty imposed will equal 180 days of dividends, whether or not earned. In accordance with Federal Reserve Board Regulations, the Credit Union may charge an early withdrawal penalty of seven (7) days dividends on amounts withdrawn within the first six (6) days after deposit or automatic renewal. Early withdrawal penalties will not apply to:
Early Withdrawal Penalties. We will impose a penalty if you withdraw any of the principal in your CD before the maturity date. The penalty will equal one hundred-eighty (180) days of interest. The penalty will be imposed whether interest representing the penalty has been earned or not. No penalty will be imposed if withdrawal of principal is made following your death or your total and permanent adjudicated disability. Any withdrawal which reduces the CD balance below the minimum required balance to open the CD shall be considered a withdrawal of the entire CD balance, in which event, the penalty shall be computed as if the entire CD balance had been withdrawn. The entire CD balance shall be distributed to you and your CD will be closed.
Early Withdrawal Penalties. We will impose a penalty if you withdraw any of the principal in your account before the maturity date. Certificates 90 days-12 months are subject to a penalty of 90 days or all accrued divideds and certificates longer than 12 months are subject to a penalty of 180 days of dividends. The penalty is calculated as a forfeiture of part of the dividends that have been or would have been earned on the account, and applies whether or not the dividends have been earned. The penalty may be deducted from the principal amount of the deposit. The Annual Percentage Yield disclosed for your account is based on an assumption that dividends will remain in the account until maturity; a withdrawal will reduce earnings. Exceptions to Early Withdrawal Penalties: We may, at our option, pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: (1) If an account owner dies or is determined to be legally incompetent by a court or other body of competent jurisdiction; (2) If the account is an IRA Account and any portion is paid within seven days after the establishment of the account; (3) If the account is a Xxxxx Plan, provided that the depositor forfeits an amount at least equal to the simple interest earned on the amount withdrawn; or (4) if the account is an IRA or Xxxxx Account and the owner attains the age of 59 1/2 or becomes disabled.
Early Withdrawal Penalties. You may make withdrawals of principal from your account before maturity. Principal withdrawal is included in the amount subject to early withdrawal penalty. The early withdrawal penalty will be as follows:
Early Withdrawal Penalties. We will impose a penalty if you withdraw any of the funds in your account before the maturity date. If your account has an original maturity of one year or less the penalty we may impose will equal 90 days dividends on the amount withdrawn. If your account has an original maturity of more than one year the penalty we may impose will equal 180 days dividends on the amount withdrawn. The penalty is calculated as a forfeiture of part of the dividend that has been or would have been earned on the account, and applies whether or not the dividend has been earned. The penalty may be deducted from the principal amount of the deposit. A withdrawal will reduce earnings. Exceptions to Early Withdrawal Penalties: We may grant a premature withdrawal request without penalty, or with a reduced penalty under the following circumstances: (1) If an account owner dies or is determined to be legally incompetent by a court or other body of competent jurisdiction; (2) if your account is an IRA Account and the account is revoked within seven days after the establishment of the account; (3) if the account is an IRA Account and the owner attains the age of 70 ½; becomes disabled; or the owner qualifies pursuant to applicable law. 8.
Early Withdrawal Penalties. The Certificate Account will mature on the Maturity Date set forth in the Certificate Receipt. The Credit Union will terminate the Certificate Account and impose a penalty on the entire balance of the account if a withdrawal of principal is made prior to the Maturity Date. If the Certificate has a term to maturity equal to or less than one (1) year, the penalty we may impose will equal three (3) months of dividends, whether or not earned. If the Certificate has a term to maturity greater than one (1) year through two (2) years, the penalty we may impose will equal six (6) months of dividends, whether or not earned. If the Certificate has a term to maturity greater than two (2) years through three (3) years, the penalty we may impose will equal nine (9) months of dividends, whether or not earned. If the Certificate has a term to maturity greater than three (3) years, the penalty we may impose will equal twelve (12) months of dividends, whether or not earned. In accordance with Federal Reserve Board Regulations, the Credit Union may charge an early withdrawal penalty of seven (7) days dividends on amounts withdrawn within the first six (6) days after deposit or automatic renewal. There arecertaincircumstances, suchasthe death or incompetence of an owner, where we may waive or reduce this penalty. See your plan disclosure if the applicable account is part of an IRAor other tax qualified plan. The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.
Early Withdrawal Penalties. The Account will mature on the Maturity Date set forth in the Receipt. The Credit Union will impose a penalty if a withdrawal of principal is made prior to the Maturity Date, as set forth below:
Early Withdrawal Penalties. If you wish to make a withdrawal of principal (including dividends earned during previous term(s)) before maturity, the entire amount in your Account must be withdrawn and the Account will be closed, incurring a penalty. The amount of the penalty is disclosed on the Rates & Fees Schedule. The penalty is calculated as a forfeiture of part of the dividends that have been or would have been earned on the account, and applies whether or not the dividends have been earned. The penalty may be deducted from the principal amount of the deposit. The Annual Percentage Yield disclosed for your account is based on an assumption that dividends will remain in the account until maturity; a withdrawal will reduce earnings. Early withdrawal penalties may be permitted or reduced for IRA accounts or other accounts if applicable law allows. Renewal Policies. Your term share account may or may not automatically renew at maturity as indicated on the Rates & Fees Schedule. If it automatically renews you will have a grace period, also indicated on the Rates & Fees Schedule, in which you may withdraw or transfer the funds without incurring an Early Withdrawal Penalty. If the account does not automatically renew, the Rates & Fees Schedule or the Account Receipt will indicate whether dividends will continue to accrue after maturity. Bonuses. You may receive a bonus on your term account if we offer such feature. Details of the amount of the bonus and the conditions to receive the bonus will be disclosed to you on the Rates & Fees Schedule or at the time you open your account.
Early Withdrawal Penalties. The funds in your TD must remain on deposit until the maturity date. There is a penalty for withdrawing principal prior to the maturity date. ALTHOUGH THE BANK GENERALLY PERMITS WITHDRAWAL OF PART OR ALL OF THE FUNDS IN A TD BEFORE MATURITY, THE BANK RESERVES THE RIGHT TO REFUSE EARLY WITHDRAWALS. FUTHERMORE, IF YOU MAKE A WITHDRAWAL OF ANY OF THE DEPOSITED FUNDS FROM YOUR TD BEFORE THE MATURITY DATE, THE BANK WILL IMPOSE A PENALTY AND YOU WILL FORFEIT SOME OR ALL OF THE INTEREST YOU HAVE EARNED ON THE AMOUNT WITHDRAWN. IF THE AMOUNT OF THE PENALTY IS GREATER THAN THE AMOUNT OF INTEREST EARNED, OR IF YOU HAVE WITHDRAWN INTEREST, ANY AMOUNT NECESSARY TO SATISFY THE PENALTY AMOUNT WILL BE DEDUCTED FROM THE PRINCIPAL AMOUNT OF THE TD. The amount of the Early Withdrawal Penalty will be as follows: • For all terms of maturity, we will impose a penalty of seven (7) days simple interest on the total deposit if the withdrawal is made within the first six (6) days after the deposit. • TDs with a term of three (3) months or less – You will forfeit an amount equal to one (1) month of simple interest on amount withdrawn, subject to a minimum of $250. • TDs with a term of greater than three (3) months up to and including twelve (12) months – You will forfeit an amount equal to three (3) months of simple interest on amount withdrawn, subject to a minimum of $250. • TDs with a term of greater than twelve (12) months – You will forfeit an amount equal to six (6) months of simple interest on amount withdrawn, subject to a minimum of $250. If the amount of accrued and unpaid interest on the deposit is less than the penalty, the difference will be deducted from principal.
Early Withdrawal Penalties. We will impose a penalty if you withdraw any of the principal in your account before the maturity date. Certificates 90 days-12 months are subject to a penalty of 90 days or all accrued divideds and certificates longer than 12 months are subject to a penalty of 180 days
