Term Share Certificate Accounts Sample Clauses

Term Share Certificate Accounts. Establishing a Certificate Account. The Credit Union offers a variety of Certificate Accounts. Please refer to our website for the types of Certificate Accounts offered. Rate Information: Your Certificate Account will earn what are known as dividends. Dividends are like interest, except that the rate of dividends is set by the Credit Union's Board of Directors (the "Board") from time to time, and dividends are not guaranteed. The Credit Union estimates a prospective dividend rate and corresponding annual percentage yield (APY) on your Certificate Accounts for each dividend period. The dividend rate and APY may change every calendar month as determined by the Credit Union. This is a fixed rate account. The Credit Union’s current dividend rates will be available each business day at our office. Refer to our website or Rate Schedule for our current dividend rates and APYs applicable to your Certificate Account. Compounding and Crediting. We compound your dividends, even though that isn't required by law. Compounding is more favorable to you, because once dividends have been credited to your account, they are added to the balance on which you will earn future dividends. Because we compound dividends, the APY on your account will be somewhat higher than the dividend rate although for lower rates the percentage figures shown on your disclosures and statements may be the same due to rounding. The APY will be posted along with the dividend rate. For this account type, the dividend period is the calendar month, beginning on the day of the month the Certificate Account is opened. For example, if you open your Certificate Account on January 5, the beginning date of the first dividend period is January 5 and the ending date of such dividend period is February 5. All other dividend periods follow this same pattern of dates. Dividends will be compounded monthly. The prospective dividend rate for each month will be determined on the last day of the previous month. The dividend declaration date follows the ending date of a dividend period, and for the example above is February 5. Dividends can be credited to your Primary Savings Account or Checking Account; however, a withdrawal of dividends will reduce earnings. If you close your Primary Savings Account before dividends are credited, you will also be required to close your Certificate Account, and you may not receive accrued dividends on any of the Accounts closed. Minimum balance requirements: The minimum balance requir...
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Term Share Certificate Accounts. (Share Certificate and IRA Certificate Accounts)
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Term Share Certificate Accounts. Additional Disclosures The following disclosures apply to all Term Share Certificate Accounts, including, without limitation, Regular, Traditional and Xxxx XXX, and Xxxxx Kangaroo (Investoroo) and CU Succeed Term Share Certificate Accounts.
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Term Share Certificate Accounts. A. Deposit. A member may establish a Term Certificate Account, including Certificates designated as Special Rate Certificates (we will refer to these as “Certificates”). Certificates are savings accounts (also known as “Term Share Accounts”) that generally earn a higher rate of interest than other savings accounts. If you wish to deposit additional funds into a Certificate, you may purchase another Certificate at the then current rate.
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Related to Term Share Certificate Accounts

  • Certificate Accounts Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law (certificate account), whichever we offer, is subject to the terms of this Agreement, the Truth-in-Savings Disclosure, and the Account Receipt for each account, the terms of which are incorporated herein by reference.

  • Certificate Account; Security Distributions On or before the issuance of the Lower Tier Classes, Xxxxxx Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate Account,” (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Securities and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Classes or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed without notice to, or the approval of, Holders of the Lower Tier Classes so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Mae shall deposit in the Certificate Account all Security Distributions received by it as Trustee hereunder. All Security Distributions deposited from time to time in the Certificate Account, all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by Xxxxxx Xxx for the purposes set forth in Section 4.05.

  • Special Accounts 1. For the purposes of this Schedule:

  • CUSTODIAL ACCOUNTS It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

  • PJM E-Accounts Buyer and Seller shall work with PJM to establish any PJM E-Accounts necessary for Seller to provide Full Requirements Service. In a timely manner, Xxxxx shall establish PJM E-Account contract(s) for the entire duration of the Transaction(s) and Seller shall confirm the PJM E-Account contract(s) for the entire duration of the Transaction(s).

  • Separate Accounts The trustee shall maintain within the trust fund a separate account for each Agricultural Contractor that signs the trust agreement to hold deposits made pursuant to this article.

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • Trust Accounts (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and, to the extent set forth herein, the Certificateholder, the Collection Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Special Account 1. For the purposes of this Schedule:

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