Share Certificates Policy & Disclosures

3 Month Share Certificate

• $1,000 minimum balance is required.
• Dividends are earned from the date of deposit and are paid upon maturity of the certificate, by check or transfer to the member’s account. Dividends do not compound.
• Share certificate may automatically renew at the current dividend rate. (7-day grace period after maturity).
• Penalty for early withdrawal is forfeiture of dividends earned since the date of issuance, or 90-days’ dividends, whichever is smaller.

12 Month Youth Share Certificate

• $100 minimum balance is required.
• This certificate is designed for youth (minor) members ages 0-17. Joint owner parent or guardian age 18 or over required.
• Dividends are earned from the date of deposit and will be compounded and paid quarterly from the date of issuance. The
  annual percentage yield assumes that dividends remain on deposit until maturity and that a withdrawal reduces the earnings
  on the account.
• Share certificate may automatically renew at the current dividend rate (7-day grace period after maturity). CD will mature to a
  Standard 12-month CD if youth primary owner’s 18th birthday occurs during CD term period.
• Penalty for early withdrawal for term of 6 months to 1 year is forfeiture of dividends earned since date of issuance or 90 days of
  dividends, whichever is smaller.
• No more than $5000 may be on deposit in 12-Month Youth CDs for each youth primary owner.

12 Month Dividend Payment Share Certificate

• $500.00 minimum balance is required.
• Dividends are earned from the date of deposit and will be paid by check to the member or transferred to a Share Account or Checking Account at the credit union.
• Share certificate may automatically renew at the current dividend rate. (7-day grace period after maturity).
• Penalty for early withdrawal for term of 6 months to 1 year is forfeiture of dividends earned since date of issuance or 90 days of
  dividends, whichever is smaller.

6 Month to 60 Month Share Certificate

• There is a $500 minimum balance required.
• Dividends are earned from the date of deposit and will be compounded and paid quarterly from the date of issuance. The annual percentage yield assumes that dividends remain on deposit until maturity and that a withdrawal reduces the earnings on the account.
• Share certificate may automatically renew at the current dividend rate. (7-day grace period after maturity).
• Penalty for early withdrawal/closing of the account for terms of 6 months to 1 year is forfeiture of dividends earned since date of issuance or 90-days’ dividends, whichever is smaller. Penalty for early withdrawal for terms of more than 1 year is forfeiture of dividends earned since date of issuance or 180-days’ dividends, whichever is smaller.

IRA Share Certificates (12 to 60 month only)

• $1,000 minimum balance is required to open an IRA Share certificate.
• Dividends are earned from the date of deposit and will be compounded and paid quarterly from the date of issuance. The annual percentage yield assumes that dividends remain on deposit until maturity and that a withdrawal reduces the earnings on the account.
• Applicable tax penalties and any required notice apply for premature withdrawals. See your IRA disclosure packet.
• An IRA Share certificate cannot be pledged as security.
• IRA Share certificate may automatically renew at the current dividend rate. (7-day grace period after maturity).
• Penalty for early withdrawal for term of 1 year is forfeiture of dividends earned since date of issuance or 90 days of dividends, whichever is smaller and 18 months to 5 years is the forfeiture of dividends earned since date of issuance or 180-days’ dividends, whichever is smaller. The forfeiture of dividends does not apply if the early withdrawal is made following the member’s disability or attainment of not less than 59 ½ years of age.