Common use of Certificate Information Clause in Contracts

Certificate Information. Limitations: You may withdraw dividends at any time and principal during the ten (10) day grace period with no certificate penalty. Funds can be added to a certificate only at maturity. Early Withdrawal Penalties: For certificate terms less than 18 months, you will incur a 90-day dividend penalty on the principal amount withdrawn if completed prior to maturity. For certificate terms of 18 months or greater, you will incur a 180-day dividend penalty on the principal amount withdrawn if completed prior to maturity. To change an existing termed certificate outside of its 10-day grace period, you will be assessed a penalty fee. Renewal Details: This certificate will automatically renew for the same term at the prevailing APY and dividend rate. If the same term is no longer offered, the certificate will renew to the closest term available. Bump rate certificates will automatically renew to a non-bump rate product with the same term at the prevailing APY and dividend rate. New Money Stipulation: New Money is defined as funds not previously on deposit with General Electric Credit Union. Matured certificates and direct deposit are not considered New Money. Bump Rate Certificates Only: During the term of your certificate, any account owner can initiate a rate adjustment by completing and signing the Bump Rate Request form. One rate adjustment can be made per year and is reflective of an anniversary year, based on the certificate open date. All tiered rate account information can be reviewed on our website at: xxxxxxxxxxxxx.xxx/xxxxxxx-xxxxx.

Certificate Information. Limitations: You may withdraw dividends at any time and principal during the ten (10) day grace period with no certificate penalty. Funds can be added to a certificate only at maturity. Early Withdrawal Penalties: For certificate terms less than 18 months, you will incur a 90-day dividend penalty on the principal amount withdrawn if completed prior to maturity. For certificate terms of 18 months or greater, you will incur a 180-day dividend penalty on the principal amount withdrawn if completed prior to maturity. To change an existing termed certificate outside of its 10-day grace period, you will be assessed a penalty fee. Renewal Details: This certificate will automatically renew for the same term at the prevailing APY and dividend rate. If the same term is no longer offered, the certificate will renew to the closest term available. Bump rate certificates will automatically renew to a non-non- bump rate product with the same term at the prevailing APY and dividend rate. New Money Stipulation: New Money is defined as funds not previously on deposit with General Electric Credit Union. Matured certificates and direct deposit are not considered New Money. Bump Rate Certificates Only: During the term of your certificate, any account owner can initiate a rate adjustment by completing and signing the Bump Rate Request form. One rate adjustment can be made per year and is reflective of an anniversary year, based on the certificate open date. All tiered rate account information can be reviewed on our website at: xxxxxxxxxxxxx.xxx/xxxxxxx-xxxxxFunds Availability Policy Disclosure Your ability to withdraw funds at General Electric Credit Union.