What happens if I need to withdraw from my Share Certificate early?

Early withdrawals may be subject to penalties, which vary by term length. For all Share Certificate accounts, the amount of the early withdrawal penalty is based on the term of your certificate. The penalty schedule is as follows:

• Terms less than 12 months = 90 days dividends
• Terms 12 to 23 months = 180 days dividends
• Terms 24 months and greater = 270 days dividends

The penalty is calculated as a forfeiture of part of the dividends that have been or would have been earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.