CERTIFICATE OF DEPOSIT TERMS AND CONDITIONS

Definitions: "We" means the credit union and "you" means the depositor(s). "Certificate" means both this form and the funds it represents. "Transfer" means any change in ownership or withdrawal rights, and specifically includes but is not limited to a pledge of this certificate as security. 

Primary Agreement: You agree to keep your funds with us to the maturity date and we agree to pay these funds to you when you present this certificate for payment and endorse it. We also agree to pay you interest on these funds at the rate and at the times stated here. In addition: (1) You cannot transfer this certificate unless you first get our written consent. (2) You cannot normally withdraw before a maturity date without our consent and a penalty. (3) You cannot make additions during a term. (4) You must tell us if there is any change in your address listed (5) This certificate is void if the funds are made with counterfeit money or is not immediately collected in full in U.S. dollars. 

Automatic Renewals: This certificate will be automatically renewed on each maturity date for a new term the same as the first one. You can stop automatic renewal by asking for payment within 10 days after a maturity date (or by sending written instructions we receive by the same deadline). We will send notice to you before a maturity date if we decide not to renew. 

Interest Rate on Renewals: The interest rate we will pay on the automatic (or other) renewal of this certificate will be the same rate we offer on share certificates on the renewal date having the same features as this one such as; term, dollar amount, and interest payments. Call us on or after the maturity date and we can tell you the rate for the renewal term. (952) 932-4499.  
No Interest After Maturity: We will not accrue interest on this certificate after maturity unless it is renewed (automatically or otherwise). 

Withdrawals and Transfers: Those of you named on the face of this certificate who sign in the redemption area on this form can withdraw from this certificate. The "number" of you who must consent is also shown. This means, for example, if there are two of you listed who sign this form and only one endorsement is necessary for withdrawal, then any one of you can withdraw the entire account balance and we have no duty to get the consent of any other person on the account. (We do not decide which of you actually owns the money; we agree only to honor the withdrawal rights agreed to by those of you who create the account.) Those of you who have the right to withdraw also, of course, have the right to request other changes to this account to the same extent. For example, if any one joint tenant can withdraw, then any one can change, pledge, or close the account.  
In addition, here are the definitions of certain types of accounts, which may be selected by you. These can be changed but only in writing with your intention clearly expressed. 

Joint Tenancy with Right of Survivorship: In this type of account you intend that upon the death of one of you the entire account balance will belong to the surviving joint tenant. If there is more than one joint tenant who survives, then the survivors intend to remain as joint tenants with right of survivorship. Simple Trust (assuming no additional agreement) or Pay-on-Death account The owner of either of these types of account intend (1) to retain all rights in this certificate during his or her lifetime, and (2) that any beneficiary will acquire the remaining account balance but only if the owner dies and the beneficiary is then living. Multiple owners are joint tenants with survivorship and a beneficiary has no right in this certificate until the death of the last owner. Multiple beneficiaries who survive the death of the owner(s) then share equally (without survivorship). 

Pledges: We will look at any debts any of you may owe us before we will give our consent to a pledge of this certificate. Also, if we consent to a pledge no one may withdraw from this certificate (including any beneficiary or survivor) until the pledge is released. 

Other Accounts: Additional documents will be required for other legal entities (corporations, estates, trusts, for example) and other withdrawal and survivorship agreements. Such documents should be interpreted to be consistent with this form if at all possible. 

Setoff: Each of you who now has or later gets the right to withdraw from this account agrees that we have the right to set off any debt you owe us against the amount of money you could withdraw from this certificate. We will use this right only if the debt is in default, and if we do, we will waive the early withdrawal penalty if we can. We will not use this right of setoff (though we can pursue any other remedy available to us by law and contract) (1) if your debt is personal and your right of withdrawal arises solely in a representative capacity (or vice versa) or (2) if setoff is otherwise prohibited by law. 

PENALTY FOR EARLY WITHDRAWAL
If certificate funds other than dividends are withdrawn prior to maturity, A SUBSTANTIAL PENALTY IS IMPOSED as follows: the Accountholder shall forfeit an amount equal to the greater of:
1.      90 days dividend (if the account is less than one year) or
2.      120 days dividend (if the maturity of the account is greater than six months)
whether earned or not, on the amount withdrawn at the nominal rate being paid in the account, regardless of the length of time the funds withdrawn have remained in the account. 

The penalty prescribed herein will not be imposed for withdrawal of principle subsequent to the death of the owner; withdrawal after the close of the dividend period in which the owner's credit union membership was terminated. 

Any withdrawal, which reduces the account balance below the Minimum Balance Requirement, or any change in the term of the dividend shall be considered as a withdrawal of the entire account balance and shall be subject to the penalty prescribed herein.  
To the extent necessary to comply with these requirements, deductions shall be made from the amount withdrawn or the remaining account balance.