Dividends on all share certificates are based on the average daily balance and are compounded and credited monthly, with a dividend period of a calendar month.  Dividend rates and annual percentage yields are fixed.  Additional deposits are not allowed during the account term.  Accounts automatically renew for another term at maturity, with a grace period of ten days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.  Early withdrawals are allowed, but we may impose a penalty if you withdraw any of the principal before the maturity date.

Amount of Penalty:
For certificate accounts, the amount of the early withdrawal penalty is based on the term of your account.  For terms of up to 12 months, the penalty is 31 days' dividends.  For terms of 18 months and over, the penalty is 90 days' dividends.  Details and exceptions to early withdrawal penalties are available in the Rate & Fee Schedule Brochure for Share Certificate Accounts, available at your local CMCCU branch.