Example: On a 5 year rate hiker purchased Feb 1, 2013, member started with a rate of 2.75% which is a quarter percent lower than regular 5 year rate.
* Member has two chances to hike the rate
- Feb 1, 2013 – Member can use 1st hike to match the regular 5 year rate of 3% (1/4 % hike)
- Feb 2, 2013 – Feb 1, 2014: refer to the 4 year rate
- Feb 2, 2014 – Feb 1, 2015: refer to the 3 year rate
- Feb 2, 2015 – Feb 1, 2016: refer to the 2 year rate
- Feb 2, 2016 – Feb 1, 2017: refer to the 1 year rate
- Feb 2, 2017 to Feb 1, 2018 – term will stay at rate until term completed