Daily Balance Computation Method. Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day Accrual of Interest on Non-Cash Deposits: Interest will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account. Transaction Limitations: After the certificate is purchased, no additional monies can be added until the stated maturity date. Partial withdrawals may be made throughout the term of the account; however, early withdrawal penalties will apply. This account may not be used for any electronic withdrawals or automatic transfers out of this account and into any other Alpena Alcona Area Credit Union account. Early Withdrawal Penalty: An early withdrawal penalty will be imposed for withdrawals before maturity. Withdrawal of Interest Prior to Maturity: The annual percentage yield is based on the assumption that interest will remain in the account until maturity; any withdrawal of interest will reduce earnings.
Appears in 3 contracts
Sources: Account Agreement, Account Agreement, Account Agreement