Redeem Certificate

These steps explain how to redeem a certificate.

1. Launch Tool #22 Close Memberships/Accounts.

2. Enter a "1" in the Redeem certificates box.

3. Click the forward arrow.

4. Enter the account number and CD suffix, along with a name ID if required, on the Certificate of Deposit Redemption pop-up.

5. Select Full redemption.

   • You can also select Partial redemption and enter the partial withdrawal amount in the field provided.

6. Click the forward arrow.

   • If the CD has not yet matured, you will view a screen warning you of this status. Click Continue if you would still like to redeem the CD.

7. If desired, waive the certificate penalty shown in the Penalty amount field on the Certificate of Deposit Redemption screen.

8. In the Redemption Options fields, indicate how the certificate will be redeemed:

   • Check: Fill in the dollar amount of the check and list the payee name in the Check pay to field.

   • An OFAC scan will be run on the individual when you click Post in the next step. Click Continue when you receive the results of the scan.

   • Transfer: Fill in the transfer amount and the account receiving the transfer.

   • New CD:  Fill in the appropriate CD fields.

9. Click Post.