Certificate of Deposit Accounts. A Certificate of Deposit is a Deposit Account on which we agree to pay a stated rate of interest for a stated period of time. All Certificates of Deposit are evidenced on your periodic statements. Early-withdrawal penalties may apply. Except as stated in any separate Certificate of Deposit receipt or disclosures, Certificates of Deposit are governed by the terms of this Agreement as well as the terms set forth in the receipt.
Certificate of Deposit Accounts. A Certificate of Deposit is a Deposit Account on which we agree to pay a stated rate of interest for a stated period of time. BECU’s Certificates of Deposit are not negotiable and are not negotiable instruments; all certificates are evidenced by Account information disclosed on your monthly statements. Early-withdrawal penalties may apply. Except as stated in any separate Certificate of Deposit receipt or disclosures, Certificate of Deposit Accounts are governed by the terms of the Account Agreements as well as the terms set forth in the receipt or disclosures, and these terms are incorporated in this Agreement by reference.
Certificate of Deposit Accounts. Interest on your CD may be credited to your CD, eChecking, savings or money market account; reinvested into your CD account (at renewal any available interest will become part of the principal balance); automatically transferred to another financial institution through ACH; or paid to you by check. Interest begins to accrue on the business day you make a deposit. Payment of interest on a CD account can be deferred until the following year on accounts with terms of one year or less. Annual Percentage Yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
Certificate of Deposit Accounts. If your account is a certificate of deposit account, most of its terms will be set forth in a separate document (which may be entitled “Truth in Savings Disclosure for Time Accounts” or otherwise) (please note that despite references in that separate document to Truth in Savings or other consumer rights, your account is a business account and rights available to consumers under the Truth in Savings Act are not applicable to your account). In the event of inconsistencies between this Agreement and a separate document pertaining to your certificate of deposit account, the separate document pertaining to your certificate of deposit account shall control. Your certificate of deposit account will be repaid at maturity (unless it is renewed) or as otherwise set forth in the separate document we provide to you. [Apart from the separate document that we provide to you with respect to your certificate of deposit account, we are not obligated to issue any additional certificate, instrument or acknowledgment that a sum of money has been received or promising to repay that sum.] Certain terms of this Agreement are not applicable to certificate of deposit accounts, including, without limitation, the terms in Sections 5, 6, 7 and 8. Certificate of deposit accounts are time deposits; you do not have a right and will not be permitted to make withdrawals prior to maturity unless subject to an early withdrawal penalty. Except for withdrawals at maturity, we reserve the right, at any time, to require at least seven (7) days’ advance written notice prior to any withdrawal.
Certificate of Deposit Accounts. Term A Certificate of Deposit is a type of deposit which requires you to leave money in the account for a certain period of time (called the “term”) to earn interest throughout the term at the specified rate. Withdrawals prior to the “Maturity Date” are subject to penalties. The “Maturity Date” is the last day of the term. These penalties are described below. When you establish a Certificate, you may select any term that we currently offer, as described in our current Deposit Account Rates.
Certificate of Deposit Accounts. The following applies to Certificate of Deposit Accounts: Maturity. Your account will mature according to the term indicated on the Rates & Fees Schedule, and as indicated on your account summary or statement. Early Withdrawal; Penalties. We will impose a penalty if you withdraw any of the funds in your account before the maturity date. 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 interest or 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 certificate of deposit 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 interest or dividends will continue to accrue after maturity.
