Certificate (CD) - East County Schools Federal Credit Union
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Certificate (CD) Shares

A great place to put extra funds when you want to earn higher dividends than regular Savings or Money Market Share Accounts

Reasons to invest in a Certificate Share Account

  • Earn a guaranteed (fixed rate) return. Leave your funds in for the full term and you can calculate your dividends up front
  • Many options to choose from: if you think rates will go up, invest short term; if you think rates may decline, invest in a long-term certificate
  • Less risky alternative to the stock market
  • Share Certificates are federally insured by the NCUA (National Credit Union Administration) to at least $250,000 for each member. (Individual Retirement Accounts (IRAs) are insured by the NCUA for an additional $250,000 per member)

The Details

  • Minimum investment is $1,000
  • Terms are available from 3 months to 5 years
  • Certificates automatically renew at a like term at the current rate

Bump Rate Certificates

Available in 9 month or 15 month options

Allow for a one-time option during the original term to:

  1. Bump the rate to the current rate being offered for this product; and/or
  2. Bump the term for up to three (3) additional months; and/or
  3. Bump the principal deposit balance by making an additional deposit (minimum of $1,000 with a maximum total principal deposit of $100,000, inclusive of the original opening deposit).

EARLY WITHDRAWAL PENALTY FOR SHARE CERTIFICATE ACCOUNTS

We may impose a penalty if you withdraw any of the principal before the maturity date.

Amount of Penalty:
  • Terms of up to one year – 30 days of dividends or $25.00, whichever is less
  • Terms of greater than one year – 90 days of dividends

 

Savings Rates

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  • Todd Linke IMG_4888 no wording cropped
    After financing a newly purchased truck with ECS, Todd wrote: Thank you for your efficient and friendly service! I always appreciate the "small bank" customer service, but the "big bank" options!
    Todd Linke, Mount Miguel HS Science Department