What happens when a certificate reaches the end of its term? A maturity notice will be mailed to you at least 15 days prior to maturity, and you will have a choice of changing the option you chose when you opened your certificate. You can either: Renew to a certificate of the same type and term. Renew to a different type or term, Transfer the funds into a deposit account or back to your IRA of the same type. We allow members a ten day grace period after maturity to withdraw funds without being charged an early withdrawal penalty.