What is the policy for withdrawal at maturity and what is the grace period?
You must indicate, when filling out the application, if you want the CD to automatically renew or not. You must notify us in writing within 10 days after the maturity date if you change your mind on the renewal or not of your CD. You have 10 days after the maturity date to withdraw funds without penalty. This time period is known as a grace period. When it is time for your CD to mature and you want to withdraw the funds, you must notify us in writing, before the end of that 10 day grace period, with instructions of where you would like your funds to be credited to. If your CD was set up not to automatically renew you must notify us in writing before the maturity date, with instructions of where you would like your funds to be credited to. If no notification is received your account will be closed on the maturity date, and a check will be sent to your address of record.
