My CD matured, but I didn't redeem it. What happened to my funds?

If your CD had an automatic renewal feature and you did not notify the bank of your plans, the bank may roll the funds into a new CD when the grace period expires. The interest rate on the new CD is at the current rate offered. Please contact your bank for more information.

Once the CD matures, you may have a grace period to decide whether to renew or withdraw the funds. The bank may continue to pay interest until you decide, but it’s entirely up to the bank. The bank must disclose on the maturity notice whether interest will be paid after maturity if the accountholder does not renew the account. Please review your Deposit Account  Agreement.

June 2019