Compounding and Crediting of Dividends. Dividends begin to accrue on the day you open or renew a Certificate. If an additional deposit of cash, check or any other non-cash item is being made to the certificate at maturity, this deposit will begin to accrue dividends as of the maturity date. Dividends will be compounded according to your Business Rate and Fee Schedule. Dividends may also be paid by check or credited to another Credit Union account monthly, quarterly, semi-annually or annually. If you receive dividend payments during the term of your Certificates, dividends are not compounded.
Appears in 2 contracts
Sources: Business Membership Agreement, Business Membership Agreement