Sample CD Renewal/Redemption Settings

In order for the system to handle the certificate account properly when it matures, it is important that the proper settings be used when setting up the CD initially. Following are some common scenarios with the settings required for each:

	Use these settings:
For this scenario:	Renewal Code	Renewal CD Type	Partial Renewal Amount	Transf/Redempt Acct

Entire CD to renew into another CD	1	xx (any valid type)	blank	blank


Partial renewal (for example: face value only to renew; rest to be transferred to share draft account)	1	xx (any valid type)	$xx,xxx amount to be renewed into new CD (e.g., face value)	12345-001 (valid account to receive remaining funds) If this field is blank and Partial Renewal Amount greater than 0, will use base share #000 account.


Do not renew CD	0	not used (can be any type or 00)	blank (not used)	blank (not used)
NOTE: CD will earn dividends using the rate in the Rate After Mature field on the CD account, or if that field is blank, using the rate from the SH dividend application.


Redeementire CD to a member account	2	not used (can be any type or 00)	blank (not used)	12345-xxx (valid account number to receive all funds) If this field is blank will use base share #000 account.


Redeemthe entire CD and send the funds to the member via check	3	not used (can be any type or 00)	blank (not used)	blank (not used)