Redeeming the IRA CD and creating a new one.

• Go to Main Menu > Member Services> Users> Redeem Certificate> Select Certificate you are wanting to Redeem. This screen will pop up once you select it

• If the member is within the 10-day grace period of changing the CD, you will zero out the unpaid interest amount and penalty amount. If member is outside of that 10-day grace period you will want to notify member of the penalty amount in order to proceed.

• If you are redeeming an IRA CD, you will always put back into IRA suffix versus savings suffix as the funds are truly never moving out of an IRA state.

• To create a new IRA CD, Go to Main Menu > Member Services>Services> IRA Certificate and this screen will pop up.

• A drop down will appear will a number of options, you will want to confirm with member how long they are wanting to have the CD for.

Once you hit continue, the screen above will appear where you will only change the highlighted fields.

• Opening Amount: This is where you will add the amount member is wanting to put into CD.
• Pay On Day: You will change this to today’s date that you are opening the CD.      
• Redeem to:  This is where you will select if the member is wanting to redeem the Certificate or the IRA Suffix after the term is over. (note: if a member wants a check you will have to redeem to the IRA first, have the member fill out an IRA withdraw form before we can give them the funds)

Once you have opened the CD, go to the balance screen to confirm that it has been opened. It will have a 0 balance, you will need to go to the transaction screen to add funds from the IRA to the Certificate.

To add funds to the IRA Certificate you will just transfer funds from the IRA to the IRA Certificate. (note: if member is within their 10 day grace period then you can just add funds to the IRA CD- you do not have to redeem the CD and create a new one to add funds)