Frequently Asked Questions/Certificates
What is the minimum deposit amount required?
The minimum deposit on certificates is $500.00 for terms of up to one year; $1,000 for terms of one year or greater. The minimum deposit on all JUMBO certificates is $25,000.
When are the dividends distributed?
Dividends are posted to the certificate monthly. Other options are available.
What is a jumbo certificate?
It is a certificate available with a deposit of $25,000.00 or more which will earn an additional 0.15% on the yield. Available in 24 months, 36 months and 60 month terms.
Will my certificate of deposit automatically renew?
Yes. Your certificate will automatically renew at the same term and with the current rate posted on the date of maturity. Yes. You have a 10-day grace period during which you can change the term, increase or decrease the balance or close the account without a penalty.
How can I open a Certificate of Deposit?
Certificates can be opened at any of our branches, by mail or through our Home Banking system (except IRA CDs). We can transfer the funds from your Credit Union account.
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