Share Certificate Agreement

It is agreed that:

1. The person(s) named on the Investment Services Application is/are the owner(s) of the certificate number indicated on the application. Owners on certificates are limited to owners on members' primary savings account. A certificate issued in the name of two or more owners indicates joint ownership with full rights of survivorship. Individual retirement account certificates are not eligible for joint ownership. For IRA certificates, the beneficiary is the person(s) designated as beneficiary on the Individual Retirement Account Agreement. The certificate will be subject to withdrawal or receipt by any owner without requiring consent of the other owner(s).
2. The certificate amount, maturity date, dividend rate and payment method are set forth on and governed by the face of the certificate. The dividend payment method may not be changed after issuance of certificate.
3. A certificate may only be used as collateral for a loan with a maturity date earlier than or the same as the maturity date of the certificate. A certificate may not be pledged, transferred or assigned to any party other than Riverfront Federal Credit Union. IRA certificates may not be pledged as collateral.
4. A certificate may be redeemed before its maturity date only upon presentation of the original certificate. If certificate funds other than dividends are withdrawn before the maturity date, a substantial penalty will be imposed. The penalty will be calculated as follows. For certificates purchased with a maturity term of 1 year or less, the penalty will be all dividends since the date of issuance or 90 days, whichever is less. For certificates with a maturity term of over 1 year, the penalty will be dividends since the date of issuance or 180 days, whichever is less. The penalty does not apply to any of the following early withdrawals: withdrawals subsequent to the death of any owner; withdrawal after the close of dividend period in which the owner's credit union membership was terminated under Article III, Section 5(c) of the Bylaws.
5. The credit union will give the owner(s) at least thirty (30) calendar days notice prior to the maturity of a certificate. Unless the credit union is notified to terminate a certificate on the maturity date, the certificate renewal term will be the same as the original term, beginning on the maturity date. The dividend rate will be the same as we offer on new certificates on the maturity date which have the same term, minimum balance and other features as this original certificate.
6. Advertised yields on certificates assume interest is added to the principal until maturity.