Investing in a Share Certificate is ideal for members who want to increase their earnings at a higher rate* than a standard savings account, and have the means to secure their funds for a longer period of time.
Youll benefit from a Certificate by getting:
If you want your funds more available than a longer term Certificate offers, a Certificate ladder might be a good strategy for you.
By dividing your money up into several Certificates with different terms or maturity dates, you can still take advantage of earning a higher rate of return and having access to your money each year when individual Certificates mature.
Heres an example of how a Certificate ladder could work:
1. There is $10,000 available to invest
2. Five Certificates with various terms, each with $2,000, are opened as follows:
3. Each year, a Certificate will mature. When it does, continue to roll it over into the longest term (the above example shows a 60 month term).
4. Even though youre rolling your Certificates over, you will still have an opportunity, each year, to use your funds if needed for other purposes.
To open a new Certificate:
¹Rates accurate as of 1/31/14 and subject to change. The minimum balance required to open a Certificate Account and obtain the above annual percentage yield (APY) is $500. The APY is based on the assumption that dividends will remain in the account until maturity. A penalty may be imposed for early withdrawal. Penalty may reduce earnings. The APY is based on qualifying for the rewards rate. To qualify for a Rewards Rate Certificate Account, you must have two of the following relationships: direct deposit of at least $500 per month into a credit union checking account; at least $25,000 on deposit; or a qualifying loan in good standing. Qualifying loans include: Mortgage, Home Equity, Auto, and Credit Cards. A qualifying loan must have a current balance and credit cards must have a transaction within the past 30 days. Any Credit Union loan that is not in good standing or delinquent will disqualify you for Rewards Rates. Offer expires 4/30/14.