Certificate rates to be thankful for!
There is such a thing as a sure thing and what better way to kick off the holiday season than making an investment with a guaranteed return? For a limited time only, we’re offering an 8-Month Certificate of Deposit with a 4.20%1 APY. This promotion only applies to new deposits.
This special won’t last long so book your appointment today to start earning!
- RATE INFORMATION — The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. The dividend rate and annual percentage yield are fixed and will be in effect for the initial term of the share certificate account (“account”). The annual percentage yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
- TERM EXTENSION — To qualify for an account term extension, the new term must extend the remaining term by at least six
(6) months. The rate will be adjusted to reflect the current rate for the new term at the time of the term extension. Individual Retirement Account (IRA) Share Certificates and Coverdell Education Savings Account (ESA) Certificates are not eligible for term extensions.
- DIVIDEND PERIOD — For each account, the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date. If an account term is extended, the new dividend period begins the first day of the termextension and ends on the new maturity date.
- DIVIDEND COMPOUNDING AND CREDITING — Dividends are compounded daily and credited monthly. If an account term is extended, accrued dividends for the original account term will be credited on the first day of the term extension.
- BALANCE INFORMATION — To open an 8-month promotional share certificate account, you must deposit a minimum of $2500 which must be “new funds.” The funds used to open the 8-month promotional share certificate cannot be existing funds on deposit with Signal Financial FCU. Dividends are calculated by the daily balancemethod which applies a daily periodic rate to the end of day balance in the account each day.
- ACCRUAL OF DIVIDENDS — Dividends will begin to accrue on cash and noncash deposits (e.g., checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends may not be paid.
- TRANSACTION LIMITATIONS — Additional deposits are not allowed. If your account term is extended, you are afforded the option one time during the new account term, subject to the aforementioned limitations. Balances on hold, including funds used as collateral for share secured loans, are not available for withdrawal and may reduce the amount you can withdraw. If the withdrawal reduces the account balance below the minimum opening balance, the account will be closed. Partial withdrawals are not allowed.
- MATURITY — Your account will mature as stated on this Share Certificate Disclosure or as stated on your Account Receipt or Renewal Notice.
- EARLY WITHDRAWAL PENALTY — We may impose a penalty if you withdraw funds from your account before the maturity date.
a. Amount of Penalty. The amount of the early withdrawal penalty is based on the following schedule:
• Promotional 8 Month Share Certificate: 124 days’ dividends
b. How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.
c. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:
i) When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
ii) Where the account is an IRA and any portion is paid within seven (7) days after the establishment of the account; or where the account is a Keogh Plan (Keogh), provided that the depositor forfeits an amount at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59½ or becomes disabled.
- RENEWAL POLICY — This 8 month promotional share certificate will renew at the 12 month share certificate term and rate at time of renewal
- NONTRANSFERABLE/NONNEGOTIABLE — Your account is nontransferable and nonnegotiable