ICEFCU offers a variety of Term Share Certificates (TSC’s) to meet your investment needs. When you are able to tie up a specific amount of money for a specified length of time, please consider these accounts as you will typically earn a higher rate of return.

Penalties for Early Withdrawal of Principal: The penalty will equal the lesser of three months’ dividends on the account or dividends credited since the account was opened on TSCs with a maturity of one year or less. On TSCs with a maturity over one year, a 6 month dividend penalty will be imposed. The penalty will be imposed regardless of whether dividends equal to the amount of the penalty have been earned at the time of withdrawal. To the extent that dividends are in the account at the time of withdrawal are insufficient to pay the entire penalty assessed, the penalty will be assessed against principal.

Renewal Policies: Your TSC will automatically renew at maturity. You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

Withdrawal of Dividends Prior to Maturity: The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.

Transaction Limitations: After your TSC is opened, you may not make deposits into the account until the maturity date stated on the certificate. Your TSC is non-transferable and non-negotiable except for use as collateral on a loan which you obtain from us.

Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of dividend periods.

Current Rates