County Educators Federal Credit Union

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Share Certificate FAQs

Q.   How do I open a Share Certificate?
A. If you wish to transfer funds from your Regular Savings (or any other CEFCU account) to a Share Certificate you may do so by calling or stopping by any CEFCU Location. You may also download, complete and submit an Add New Account Authorization Form and fax it to any CEFCU Location.

Q. What is the minimum balance requirement to open a Share Certificate?
A. The minimum daily balance requirement is $500.00

Q. You do not have the rates listed for the Share Certificates, could you E-mail the current rates to me?
A. Yes, please E-mail Us with your request for current rate information.

Q. How do I know when my Share Certificate matures?
A. The Credit Union will mail you notification 30-calendar days prior to maturity. If we do not hear from you, the Share Certificate will renew at the same term with the current interest rate for that term. You will have 10-calendar days after the maturity date to decide if you would like to renew the certificate or withdraw the funds.

Q. Will my Share Certificate rate change?
A. No, once you open a Share Certificate, the interest rate at time of opening will remain the same throughout the term.

Q. What is the penalty if I close my Share Certificate early?
A. If your account has an original maturity of one year or less, the penalty we may impose will equal 90 days dividends on the amount withdrawn subject to penalty. If your account has an original maturity of more than one year, the penalty we may impose will equal 180 days dividends on the amount withdrawn subject to penalty.

Q. Can I deposit money to my Share Certificate before maturity?
A. You cannot deposit money into a Share Certificate prior to maturity. If the amount is $500.00 or over, you may want to consider opening an additional Share Certificate Account.

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The Credit Union is an Equal Housing Lender.
We do business in accordance with the Federal Housing Law and the Equal Credit Opportunity Act
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
National Credit Union Administration, A U.S. Government Agency.