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Here’s what’s going to happen with your Rags to Riches Accounts, now that you’ve graduated:

Your money will be transferred (moved) to your regular membership savings account. When you joined the credit union, this savings account was opened and maintained a $25 balance. Even though the $25 is your money, you need to keep it in this account to keep your membership active with the credit union. You may make deposits and withdrawals to this account in the same way as you did with your Rags to Riches Savings Account. The only difference is that you add "-00" after your account number (instead of -03).

Within a month of your Certificate’s maturity date (the date it finishes its length of time), you will receive a letter. You may respond to the letter to make changes to your Certificate. For example, you can add more money or choose a Certificate with a longer term (number of months) so that you earn higher dividends. If you do not respond to the letter, the following will happen automatically:

• If you have less than $500 in your Certificate, your money will be transferred to your regular membership savings account.
• If you have $500 or more in your Certificate, your money will renew as a regular Certificate with the same term.

Don’t worry. Learning about checking accounts, ATMs, and comparison shopping can be just as much fun as some of the Rags to Riches games. When you feel you’re ready for a checking account, visit the Teen Life Stage page and then talk to your parents about starting with the FoolProof for Parents and Grandparents program.

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