Certificate Terms: Upon maturity, this certificate will automatically be renewed.  The renewal term will be the same as the initial term, unless you have chosen a maturity date outside our standard maturity terms (1 year, 2 years, 3 years, 4 years, and 5 years).   If your maturity date is outside our standard terms, upon renewal, your certificate term will automatically renew at the next shortest standard term.  For example, if you chose 18 months as your maturity date, upon renewal, your new renewal term would be moved down to 12 months.  A notice will be sent prior to maturity, and you will have 7 days after each renewal date to notify the credit union if you wish to change your investment without incurring a penalty.  Except as otherwise stated here, the conditions applicable to the initial certificate will also apply to the renewal certificate.  Unless otherwise directed, the principal amount of the account for each renewal term will be the principal of the preceding term together with the interest credited or accrued but not paid or withdrawn during the preceding term.  The rate of interest for any renewal term will be the rate of interest the credit union is offering at the time of renewal on this type of certificate at the standard renewal terms (1 year, 2 years, 3 years, 4 years, and 5 years).  The credit union reserves the right to not renew this account by giving you written notice at your address as shown in the credit union’s records.


Certificate Interest: Your account will bear interest from the date of deposit, calculated on a 365/365 basis (366/366 in leap years) and paid in the manner indicated below.  Certificate interest is accrued daily, credited to the certificate balance quarterly, and paid to the certificate on the date of renewal.


Bump Option: During the certificate term (1 – 5 years), you may adjust the certificate rate to the current rate being offered for the same term as the current certificate.  This rate adjustment may be made one time during the term of the certificate.  You must make the request to initiate the bump option.  The credit union will not automatically adjust the rate.


Penalty for Early Withdrawal:  All of the principal may be withdrawn prior to maturity of any term only with the credit union’s consent given at the time withdrawal is sought.  If such consent is given, the penalty is 90 days of interest earned on the principal amount for terms of 1 year and less.  The penalty is 180 days of interest earned on the principal amount for terms greater than 1 year.  If early withdrawal occurs within the first 90 days after date of issue, the penalty is the amount of the interest earned to the withdrawal date.


Withdrawal Without Penalty:  Early withdrawal without penalty may be made upon the death of the member.


Account insured up to $250,000 by NCUA