Share Certificate Form

Share Certificate Request Form

A share certificate can be viewed as a credit union's version of a CD, designed to provide members with a secure and reliable means of growing their savings while benefiting from the trusted reputation and member-centric philosophy of Banner Federal Credit Union.

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Disclosure

Fixed Rate Certificate: The interest rate will remain constant until the maturity date; at which time the certificate will be renewed at the prevailing interest rate.

No Additions Permitted: You may not make additional deposits to this account during its term (other than credited interest).

Penalty for Early Withdrawal: The penalty is calculated as a forfeiture of part of the interest that has been or would be earned on the account. The penalty is as follows:

• 6 month to 1 year certificate =30 days of interest
• 18 months to 3 years certificate =90 days of interest

Renewal Policy: This certificate will automatically renew on the maturity date. Each renewal term will be the same as the original one, beginning on the maturity date. You have a grace period of ten days after maturity in which to withdraw funds without an early withdrawal penalty. If this is a special term certificate and is no longer available at renewal, it will renew at the rate and term of a 6-month certificate.

Withdrawal Limitations: You may not withdraw principal from this account except on or after maturity. There is a ten-day grace period after each renewal date during which withdrawals are permitted without penalty. Accounts closed during the grace period will not receive interest accrued during the grace period.

Balance Computation Method: We use the daily balance method to calculate the interest on this account. This method applies a daily periodic rate to the principal in the account each day. Transfer: This certificate may not be transferred, pledged, or assigned to any party other than Banner Federal Credit Union. If the certificate is an Individual Retirement Account (IRA), it may not be transferred, pledged, or assigned, and is not subject to any pledge of shares or deposits that owner has previously signed.

Annual Percentage Yield: is calculated as if current rates remained constant for one full year and the principal and earnings are reinvested at each maturity date as the same rate.

Rates may change at any time without prior notice, before or after the account is opened. Fees could reduce earnings on the account. Dividends are paid on the entire balance once the tier minimum is met.