Share Certificate Accounts Sample Clauses

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accounts have stated maturity dates, and funds in those accounts are subject to early withdrawal penalties if funds are withdrawn prior to the maturity date.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.

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 XXX Certificate is available on selected certificate accounts. A regular, mini-jumbo and jumbo option is available. REGULAR CERTIFICATE: offer XXX, mini-jumbo and jumbo options (and in-combination: XXX Mini-JumboCertificate); required distribution withdrawals available for regular XXX 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 Accrued dividends may be withdrawn at any time prior to maturity without penalty.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 Certain federal and state penalties may apply if XXX funds (including dividends earned on XXX funds) are withdrawn early and the maximum yearly contribution you may make to an XXX account is limited under the Internal Revenue Code. See your XXX 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. 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. 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. SERVICE CHARGES AND FEES: Please refer to “OTHER FEES AND CHARGES” below

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. Transaction Limitations. After the account is opened, you may not make additions to the account until the maturity date stated on the account. Principal withdrawn before matu- rity is included in the amount subject to early withdrawal penalty. You can only withdraw dividends credited in the term before maturity of that term without penalty. From time to time, the Credit Union may offer Step Up or Add On opportunities, which may allow you to change the contracted rate, add additional principal to the account or both. Ask the Credit Union for details.

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. Individual Retirement Account (IRA) or Regular a. The annual percentage yield assumes dividends remain on Account until maturity and withdrawal will reduce earnings. Rate sheets may be obtained by visiting your local branch, on our website or by calling (000) 000-0000. Rate sheets identify dividend rates based on account balances. b. A substantial penalty is imposed if the share certificate funds other than dividends are withdrawn prior to the original or renewal maturity hereof. If the term is: Penalty At least 7 days but less than 12 months 90 days At least 12 months but less than 48 months 180 days 48 months or longer 365 days c. Penalties for Early Withdrawal: If the early withdrawal reduces the principal amount of the share certificate below the minimum amount required, the share certificate will be canceled. In all cases of early withdrawal, a penalty will be imposed equal to the dividends on the principal withdrawn for the lesser of 1) the number of days since opening or renewal, or 2) the number of days penalty according to the following chart: d. The amount withdrawn will not be considered in the calculation of any future dividends. In any case of withdrawal of principal prior to the maturity date, if the dividends available at the time of withdrawal are not sufficient to cover the applicable penalty, the Credit Union will deduct from the principal an amount sufficient to cover the applicable penalty. e. Your share certificate Account will automatically renew into a share certificate of like term and maturity. You WILL have a grace period of 7 days after the maturity date to withdraw the funds in the Account without being charged an early withdrawal penalty.