CD and share certificate opening, renewal and early withdrawal

How do we handle CD and share certificate maturities so the customer chooses, the disclosures go out on time, and the core reflects the choice?

Run maturity as a process that starts on the clock. Callvu sends the maturity notice inside the Truth in Savings period, prefills the certificate and the renewal options the bank offers, lets the customer renew, change the term or amount, or close, on their own phone, delivers the disclosures for the choice, and writes it to the core before the grace period ends. Deposit operations handles only the exceptions.

In scopeSimpleCallvu moves: prefill, decide, write back

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Last updated November 6, 2026.

The problem today

The maturity notice is a letter, the customer calls on the last day of the grace period, and the renewal is keyed by hand.

Today, without Callvu

The core prints a maturity notice. The customer reads it, or not, and calls during the grace period to ask what the rates are. The agent quotes, the customer decides, and the agent keys the renewal, the new term and the rate into the core, or lets it auto-renew at a rate the customer did not choose. The disclosures for the new term go out later, if the system remembers.

Truth in Savings sets the clock: for an automatically renewing certificate with a term longer than a month, the maturity notice goes out at least 30 calendar days before maturity, or 20 days where the grace period is at least five days, with the new terms or a statement that they are not yet known and how to get them. A renewal at a changed term is a new account disclosure. For a credit union, the same rules apply under the NCUA's part 707.

The customer's choice is the record that matters, and on a call it is the agent's note.

How it runs

From the requestto the system of record.

Callvu opens a maturity case for each certificate on the date the notice period requires, or when a customer asks about a certificate before maturity.

Member or customer: Reads the maturity notice, chooses to renew, change the term or amount, add or withdraw funds, or close, and acknowledges the disclosures.
Deposit operations: Decides exceptions (a rate exception, an early withdrawal outside the rule, a joint owner's dispute) in the Decision Desk and sees every maturity with its outcome.
Callvu: Starts on the clock, sends the notice, prefills, captures the choice, delivers the disclosures and writes the outcome to the core.

Start on the clock
For each certificate, Callvu calculates the notice date from the maturity date and the grace period, and sends the maturity notice in the channel the customer consented to, with the renewal terms or how to obtain them.
Prefill
The certificate (balance, rate, term, maturity date, grace period, joint owners, beneficiaries) and the renewal options the bank's policy offers for that product are prefilled. The customer sees what they have and what they can do.
Decide
The customer chooses: renew at the same term, change the term or amount, add or withdraw funds during the grace period, or close with a payout. A choice inside the policy proceeds. A rate exception, an early withdrawal outside the rule, or a certificate with a hold or legal restriction goes to deposit operations in the Decision Desk.
Disclose and write back
The disclosures for the chosen term are delivered and acknowledged, and the choice is written to the core with the new term, rate, maturity date and the acknowledgment. A certificate with no response renews on its terms when the grace period ends, and that default is recorded as such.

Where it ends: The certificate is renewed, changed or closed in the core as the customer chose, with the notice, the choice and the disclosures on the record and the dates inside the Truth in Savings periods. The Decision Trace shows the clock and the rule; the Audit Trace shows every step.

Runtime enforcement

What is enforcedwhile the work runs.

The regulations preloaded in Callvu Studio and the bank's own policies, applied as steps that run, not lines in a binder. A step that breaks a rule does not run, so a completed run was compliant.

Regulations

Reg DD maturity notices for time accounts (12 CFR 1030.5(b) and (c)): For an automatically renewing time account with a maturity longer than one month, the bank sends a maturity notice at least 30 calendar days before maturity (or at least 20 days where the grace period is at least five days) with the new terms, or a statement that they have not been determined, the date they will be, and a telephone number. For a non-renewing time account with a maturity longer than one year, notice at least 10 days before maturity that the account will not renew.
Reg DD account disclosures on renewal at changed terms (12 CFR 1030.4): A renewal at a different term or rate structure is a new account for disclosure purposes; the disclosures are provided before the renewal takes effect.
NCUA Truth in Savings (12 CFR part 707): The same maturity notice and disclosure requirements apply to share certificates at federally insured credit unions.
Early withdrawal penalties (Reg DD 12 CFR 1030.4(b)(6) and the account agreement): The penalty for a withdrawal before maturity is a disclosed term; the process applies it from the disclosure and shows the customer before they confirm.

Company policies

The notice date per product is computed from the maturity date and the grace period and the notice goes out on it, every time.
The renewal options and the rate sheet per product are the bank's policy and applied by Callvu; a rate exception needs deposit operations.
The customer's choice is captured from the customer, with the disclosures acknowledged, before it is written.
A certificate with no response renews on its terms at the end of the grace period, and the record shows it was the default, not a choice.
The core is the system of record.

Controls

Clock-driven case start and notice delivery.
Prefill of the certificate and the allowed options.
Choice captured on a process-controlled screen, timestamped.
Disclosures delivered and acknowledged before the write.
Early withdrawal penalty shown before confirmation.
Decision Desk routing for exceptions.
Default renewal recorded as a default.

Clocks and deadlines

Maturity notice: At least 30 calendar days before maturity, or 20 days where the grace period is at least five days (Reg DD and NCUA part 707).
Grace period: As disclosed for the product; the customer may act within it and the default applies when it ends.
Non-renewing certificate notice: At least 10 days before maturity for a term over one year.

Documents and checks

The maturity notice as sent, with the channel and date
The certificate as prefilled and the options offered
The customer's choice with its timestamp
The disclosures for the chosen term with acknowledgment
The write to the core and the confirmation

In the Decision Trace

The notice date computed and the rule behind it.
The options offered and the choice made, or the default applied.
Any Decision Desk outcome and the person.
The disclosure delivery before the write.

In the Audit Trace

The notice sent, when and where.
The customer's steps and times.
The write to the core.
The confirmation sent.

The handoff

Between the front doorand the back office.

The front door

The maturity notice is the front door: a link in a text or email, or the app. The customer chooses on their own phone; a branch or call can start the same process.

The back office

Deposit operations sees every maturity with its outcome and decides only the exceptions. The core receives the choice once, with the disclosures.

The Decision Desk

A rate exception, an early withdrawal outside the rule, a certificate with a hold or legal restriction, or a joint owner's dispute goes to deposit operations in the Decision Desk with the certificate and only the allowed outcomes.

Proof

In scope.Proof at scale, not one process at a time.

The kind of process Callvu runs in production for customers in this industry. Ask for a reference on this exact process. The results below are the industry's published proof; each claim code links to its record on agents.callvu.com.

More than 1,000 processes are live across Callvu customers.

Across Callvu customers

Banca Transilvania automated more than 100 workflows with Callvu.

BNK-04

Bank Leumi digitized all loan application and servicing workflows within six months, and dozens more processes since.

BNK-01

Questions

What buyers ask next,answered plainly.

When is the maturity notice sent?

On the date Reg DD requires for the product: at least 30 calendar days before maturity, or 20 days where the grace period is at least five days. Callvu computes it from the certificate and sends it in the consented channel.

What if the customer does nothing?

The certificate renews on its terms when the grace period ends, and the record shows it was the default. The customer was told that in the notice.

Can the customer change the term on their phone?

Yes, among the options the bank's policy offers for the product. The disclosures for the new term are delivered and acknowledged before the change is written.

Does this work for credit union share certificates?

Yes. The notice and disclosure rules are the same under the NCUA's Truth in Savings regulation.

Related processes

Product conversion and rate changes Account servicing changes Credit union membership eligibility and joining Try it in the sandbox All banking and credit unions processes

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