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:
- Bump the rate to the current rate being offered for this product; and/or
- Bump the term for up to three (3) additional months; and/or
- 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
ECSFCU!
