- Earn a great high dividend yield that stands above most banks interest rates
- Reassurance that you have a higher FIXED dividend throughout your investment
- Reinvest your earnings in your CD to maximize your return on your funds or have them deposited to your UECU Share Savings Account and still earn a great rate!
- Use the Advantages Certificate of Deposit™ to help build your nest egg for retirement by choosing an IRA Traditional or Roth Certificate of Deposit.
Advantages Certificates of Deposit™ Features:
Advantages Certificates of Deposit™ are insured, dividend paying certificate accounts that are offered with a set dividend rate for a set period of time that do not allow additional deposits. This is a great option for those members who utilize a timed investment opportunity for a higher-yield dividend rate.
- Three dividend tiers to accommodate all types of savers – This combined with a low minimum deposit of only $500 allows all types of savers to take advantage of higher rates. You choose the investment level that’s right for you!
- Terms from 6 months to 5 years - The wide variety of terms allows your investments to mature and become liquid at various intervals.
- Dividends compounded and posted monthly.
- Certificates automatically renew – Automatic renewal ensures you’re always earning the highest rates possible and prevents a lapse in dividend accrual.
- Earned dividends can be deposited to the principal of the Certificate or to your UECU Share Savings Account or Advantages Checking™ Account.
- Opening deposit can be made by mail or transfer from another UECU account or from another financial institution.
- Insured by the NCUA up to $250,000
- Can be used as collateral on loans
- Certificates of Deposit that are closed before they reach maturity, incur an early closing penalty; additional information included below. If you need to close a CD prematurely, you can have the penalty calculated by speaking with a Member Service Representative at 800-288-6423.
Early Closing Penalties for Certificates of Deposit: If your CD has a term of 12 months or less and you close the CD prematurely, you will be penalized 90 days’ worth of dividend. If your CD has a term greater than 12 months up to and including 3 years, the penalty will be an amount equal to 2% of the principal amount withdrawn. For a CD with a term greater than 3 years, the penalty will be an amount equal to 3% of the principal amount withdrawn. If you have not accrued the total amount of penalty in dividends, the CD is subject to the loss of principal.