Share Certificate Accounts. Share Certificate accounts have stated maturity dates, and funds in those accounts are subject to early withdrawal penalties if funds are withdrawn prior to the maturity date. Exact terms of the particular account will be provided at the time of account opening. If you maintain sufficient funds in the account for the full term in accordance with your agreements, at the end of the term we will pay you the principal amount you deposited, plus dividends on account earnings in accordance with this Agreement. If you withdraw all or part of your funds from this type of account before the certificate account matures, we will charge you an early withdrawal penalty. That penalty is generally deducted from the dividend that has accrued on the account but may be deducted from the principal, particularly if a sufficient amount of dividend to pay the penalty has not accrued. We may at our sole discretion grant you permission to withdraw funds early; if such permission is granted, it will be granted only at the time you request an early withdrawal. Unless otherwise stated when you open the account, your share certificate will automatically renew at each maturity date for a period of time equal to the original term and on the same conditions as the original account. The dividend rate applicable to the renewal term shall be that rate that is applicable to a new account on like terms in effect at the time the account renews. You can prevent an automatic renewal by providing us written notice or by withdrawing or transferring the funds on or within 10 days after the maturity date. If funds are withdrawn within 10 days after the maturity date, no penalty will be assessed. We may call an automatically renewing account for payment at the end of the original term or any renewing term, and any dividends added to it for compounding will stop earning dividends on the effective date of the call. If the account is not automatically renewing, no dividends will be earned after the stated maturity date. We will send you a notice on or before the maturity date of your account(s) advising you of the upcoming maturity date and the options available to you.
Share Certificate Accounts. Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Truth-in-Savings Disclosure are share accounts.
Share Certificate Accounts. Partners Federal Credit Union’s share certificate accounts let you deposit your money for a specified period of time. Our share certificate accounts are: Certificate, Bump Certificate, College Saver Certificate, Starter Certificate and a promotional certificate offer when available, the Flex Certificate. An IRA Certificate is available on selected certificate accounts. A regular, mini-jumbo and jumbo option is available. REGULAR CERTIFICATE: offer IRA, mini-jumbo and jumbo options (and in-combination: IRA Mini-JumboCertificate); required distribution withdrawals available for regular IRA Certificates. TRANSACTION LIMITATIONS: There are certain transaction limitations associated with your share certificate account. You may not make deposits or withdrawals from your share certificate account before the maturity date. Accrued dividends may be withdrawn at any time prior to maturity without penalty. No withdrawals of principal are permitted prior to maturity. Certain federal and state penalties may apply if IRA funds (including dividends earned on IRA funds) are withdrawn early and the maximum yearly contribution you may make to an IRA account is limited under the Internal Revenue Code. See your IRA account application and agreement for details. MINIMUM DEPOSIT AND BALANCE REQUIREMENTS: Your share certificate account has certain minimum deposit and minimum balance requirements. The minimum deposit required for you to open your share certificate account and the minimum daily balance you must maintain to obtain the disclosed APY is shown on the enclosed Rate Sheet. You must maintain the minimum daily balance shown on the Rate Sheet in your share certificate account to avoid closure. DIVIDEND COMPOUNDING AND CREDITING: Dividends compound daily and are credited monthly and at maturity. At your option, dividends may compound monthly on your certificate account. For certificates of one
Share Certificate Accounts. Any share certificate or certificate account allowed by state law, which we offer is subject to the terms of this Agreement, the Truth-in-Savings Disclosure, and Account Deposit Receipt for each account, the terms of which are incorporated herein by reference Overdrafts.
Share Certificate Accounts. Individual Retirement Account (IRA) or Regular
Share Certificate Accounts. Share certificates are subject to the terms of this Agreement, the Rate and Fee Schedule and Share Certificate Rate Schedule and Agreement for each account the terms of which are incorporated herein by reference.
Share Certificate Accounts. DIVIDENDS: The dividend rate and APY on these accounts are established and separately disclosed in the Share Certificate Agreement at the time the account is opened. Dividends will be compounded monthly and will be credited monthly, on the monthly anniversary date of the opening of your account. If you close your account before dividends are credited, you will not receive accrued dividends. SERVICE CHARGES AND FEES: Please refer to “OTHER FEES AND CHARGES” below for applicable fees. Any applicable fee for these accounts will be initially and principally assessed against your Regular Share Account. However, if there are inadequate funds in your Regular Share Account, the fee will be charged to your FasTrack Checking Account, Youth Custodial/Convenience Account, Holiday/Vacation Club Account, Money Market Account, or Share Certificate Account.
Share Certificate Accounts. The rates and terms applicable to your account at the credit union are provided in this Truth-in-Savings Disclosure and the Rate Schedule. Applicable fees are covered in the Fee Schedule. Except as specifically described, the following disclosures apply to all Regular and IRA Share Certificate Accounts.
Share Certificate Accounts. Except as specifically described otherwise herein the following terms, conditions and disclosures apply to all share certificates at SAFE Federal Credit Union.
Share Certificate Accounts. Nothing in this Agreement shall be construed so as to make the Certificate account a demand deposit, and we reserve the right to require at least seven days written notice of an intention to withdraw any funds represented by this Certificate account. This notice time may be increased according to our Bylaws or under applicable laws. You will receive a receipt for the funds deposited into the Certificate Account you establish with us. The receipt is merely evidence of your Certificate account with us and is non-negotiable and non-transferable. Each Certificate shall be automatically renewed for successive periods, each equal to the original term of the Certificate, until it is presented for payment on any Maturity Date, or until we give written notice of our election to call the Certificate for payment on any Maturity Date by mailing notice of such intention to you at least ten days prior to such Maturity Date. In the event we either receive or give notice of an intention not to renew the Certificate and the receipt is not presented for payment on any Maturity Date, we may, at our option, either transfer all funds represented by the Certificate to any regular share account or other account of yours, or pay all funds represented by the Certificate directly to you. You may request us to pay the funds in a Certificate Account within ten days after any Maturity Date without penalty. If we pay any or all of the funds in a Certificate Account before any Maturity Date, you shall forfeit the lesser of the early payment penalty shown on the Fee Schedule or all dividends earned since the issuance date or the date of any successive renewal period. If dividends previously paid exceed dividends payable under this penalty provision, the excess shall be deducted from the amount requested to be withdrawn. All earnings credited to this Certificate Account may be withdrawn at any time without penalty. Certificates may not be pledged, transferred or assigned to any party other than this Credit Union. You agree that any Authorized Person may open a Company Certificate Account which is governed by this Agreement with the Credit Union at any time without giving an additional signature.
