SHARE CERTIFICATE (Regular & Jumbo) Clause Samples

SHARE CERTIFICATE (Regular & Jumbo) a. Rate Information (fixed rate account) - The interest rate and your annual percentage yield (APY) on your account will be provided to you in person or on our web site. You will be paid this rate until first maturity. b. Bump-up Option Plan and Rate Information (variable rate account) – If this option is offered, the interest rate and the annual percentage yield (APY) on your account will be provided to you in person or on our web site (▇▇▇.▇▇▇▇.▇▇▇). The interest rate and annual percentage yield (APY) may change. We will not change the rate on your account during the term of the account. However, you have the option during the first term of this account to exchange this interest rate for a new interest rate. The new interest rate will be the interest rate we are then offering on certificates of the amount of this account (or less) with the same term (or shorter) as that remaining on this account at the time of the exchange. This exchange will be at no cost to you. If you make an exchange, the maturity date of this account will remain the same as originally scheduled. You may exercise this exchange option once during the first term, but not during any renewal term. c. Compounding Frequency - Unless otherwise paid, interest will be compounded every day. d. Crediting Frequency - Interest will be generally credited to your account every quarter. However, you may specifically request that interest be credited monthly, semi-annually, annually, or at maturity. Alternatively, you may choose to have interest paid to one of your accounts at Deseret First Federal Credit Union or have a check sent to you rather than credited to this certificate account. e. Minimum Balance Requirements- The minimum balance required to open this account is $500.00. You must maintain a minimum daily balance of $500.00 in your account each day to obtain the disclosed annual percentage yield.