Loading...
HomeMy WebLinkAboutPC94007 4-10-95 (02) 5401 69th AvePlease retain this document as your record of account ownership. A Marquette Bank Member FDIC Marantha Baptist Care Center or City of Brooklyn Center 5401 69th Ave. N. Broklyn Center, MV 55429 ACCOUNT NUMBER 1822000000374 MATURITY DATE 3-10-96 TAXPAYER ID NUMBER 41-00855713 AMOUNT/DATE OF DEPOSIT $5,000.00 Apri 1 10,,1995 . Your certificate of deposit (CD) is transferable only on the bank's books and records. Your account is subject to the "Terms and Conditions Governing Depository Accounts", a copy of which has been furnished to you, and other agreements we enter into with you. Minimum balance requirements -You must deposit 2, W _fXl to open this account. You must maintain a minimum balance of 2,500 00 in your account every day to obtain the annual percentage yield listed below. ANNUAL PERCENTAGE BASIS,OF FLOATING RATE YIELD/INTEREST RATE )(K Fixed 585- a-84-% ❑ Floating INTEREST PAYMENT OPTIONS I Add to Principal: ❑ Annually ❑ At Maturity ❑ Mail Check: ❑ Monthly ❑ Quarterly ❑ Credit: ❑ Savings or ❑ Checking, Account Number ❑ Monthly ❑ Quarterly Term Additional deposits: ❑ Accepted ❑ $100 ❑ $250 XHNot Accepted Automatic Renewal: At rate in effect at maturity for a time deposit of like term and amount. El Not applicable. No interest will be paid on this deposit after the maturity date. EARLY WITHDRAWAL PENALTY NOTICE Your Agreement - When you open a certificate of deposit with us, you agree to keep the funds on deposit until the maturity of your CD. If you wish to withdraw all or any part of the principal of your deposit before its maturity, and we consent to this withdrawal, we will impose an early withdrawalpenaltyon the amount withdrawn. The early withdrawal penalty we will impose depends on the original maturity period of your CD. If there are not enough interest earnings in your CD to pay the early withdrawal penalty, we will deduct from the principal of your account. Penalty Description ❑ If the maturity of your CD is 91 days or less, the early withdrawal penalty is loss of the greater of: 1) all interest earned on the amount withdrawn or 2) days interest. If the maturity of your CD is between 91 days and one year, the early withdrawal penalty is loss of three months interest. ❑ If the maturity of your CD is one year or more, but under three years, the early withdrawal penalty is loss of six months interest. ❑ If the maturity of your CD is three years or more, but under four years, the early withdrawal penalty is loss of nine months interest. ❑ If the maturity of your CD is four years or more, the early withdr al pen ty o�ss of�one years interest. ❑ (�i� Computation of Your Penalty • For any CD which earns a fixed rate of interest (where the rate does not vary during the term of the CD), we will calculate your penalty on the principal amount withdrawn using the simple interest rate being paid on your CD. • For any CD which earns a "floating" interest rate (where the rate varies from time to time during the term of the CD), we will calculate your penalty on the principal amount withdrawn using the simple interest rate being paid on the account at the time the early withdrawal occurs. 61570 (5/93) ADDITIONAL DEPOSIT INFORMATION • Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. • Accrual of interest on noncash deposits - Interest begins to accrue on the business day you . deposit noncash items (for example, checks). • Transaction limitations - You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. You can withdraw interest credited in the term before maturity of that term without penalty. • Automatically renewable CD - If you have an automatically renewable CD, it will renew at maturity for the same period as the original term, unless you notify us within the seven day grace period. Funds may be withdrawn in person or by contacting us with a written notice. If you prevent renewal within the grace period, then interest will be credited to your account. We can, prevent renewal if we mail notice to you at least 30 days before maturity. If we prevent renewal, interest will not accrue after final maturity. CDs with special deposit rates will renew for the same term at the regular rate offered for that term. • Floating rate accounts - If you have a floating rate account the interest rate and annual percentage yield will change.