Certificates Of Deposit
Members interested in an investment account can take advantage
of a variety of competitive-yield certificates. Generally,
a Union Trades FCU certificate always earns you more than
a regular savings account, because you deposit a specified
amount for an established period of time.
FCU Certificates can be tailored to fit your financial
needs, with terms as short as 6 months up to 3 years to
lock in high earnings. The dividend rates are usually higher
than bank CDs and our minimum deposit is only $500.
Investing in certificates is a safe, simple way to earn
a competitive rate on your money.
- Invest short-term for maximum liquidity, or long term
for the highest possible rate of return.
- Certificate maturities vary from 6 months to 3 years.
- Minimum deposit of $500.00 is required.
- 90 days interest penalty for early withdrawal on 6 month
- 180 days interest penalty for early withdrawal on CD's
whose terms are over 6 months.
The credit union will give the owner(s) at least 10 days'
notice prior to maturity. The notice will inform the owner(s)
of the terms, in any, under which the credit union proposes
to renew the certificate. If the certificate is not renewed
at maturity the credit union will transfer all certificate
funds to the regular share account of owner(s) or pay all
certificate funds directly to owner(s).
Like all deposit accounts at Union Trades FCU, Certificates
of Deposit (CD's) are insured by the National Credit Union
Administration (NCUA), an agency of the U.S. Government, up