Share Certificates

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Share Certificates

The Share Certificates are savings program that is similar to Certificates of Deposit (CD's). The certificates can have a 3 month, 6 month, 1 year, 2 year, 3 year, or 5 year term each having a minimum deposit of $1000.00. The dividends are accrued daily and posted monthly. You have the option of applying the dividends back to the principal, paid to your share account, or mailed to you monthly. The certificate may be pledged as collateral security for a loan or loans from the Credit Union. Should you need to make a withdrawal from the certificate prior to maturity you will be accessed a penalty of 180 days interest on the amount you withdrawal. Once the Certificate is about to reach maturity you will receive at least ten (10) days notice prior to maturity. The certificates will automatically renew for the same or like term upon maturity. A seven (7) day grace period is available after maturity. During this seven (7) day period, funds may be withdrawn from the maturing account without the assessment of an early withdrawal penalty. To open a Share Certificate complete the Share Certificate Policy and Share Certificate Agreement and forward to the Credit Union. You may either send a check, transfer from your regular account, or transfer from your Share Plus with NO penalty.

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