Share Certificates
We have expanded our certificate offerings to
include several new terms. This offering comes so we can better
rely on determining our own certificate rates instead of our
former policy of matching the best available rate. While it’s
unfortunate we can no longer match the best rate or special in
town, there will be times when we do have the best rate in
town. Our rates have always been competitive and near the top
of the local market and will continue to be so.
There are some factors that contributed to this
decision. First of all, the national economy is a contributing
factor. Businesses and individuals desire to borrow has
decreased. This means financial institutions are sitting on
enormous amounts of money and cannot invest them in loans like
they have in the past. Yes, they can buy certificates of their
own, but the rates they can purchase at are very, very low.
When there is a surplus of funds in the market place, the rates
being offered by all decreases as well. It’s a vicious cycle
that has been continuing for quite some time.
Borrowing has decreased, both locally and
nationally. As a result, we have to invest surplus funds at a
lower rate than what we were previously to receive when lending
the funds out. That means our interest rate spread has shrunk
dramatically. Recently, the credit union purchased a 30 day
certificate at 0.19%. You can quickly see that if we can’t
invest for more than we are paying, the credit union could
experience losses while investing in this cycle.
If you use the credit union for many services, you
know that the overall credit union package offered by Healthcare
Plus saves you money in the long run. Please use us for all
we’re worth!
- May be purchased for $100 or more
- Terms for 6 months, 12 months, 18 months, 24 months, 30 months,
36 months, or 60 months.
- Dividends based on current market offerings
The Diploma CD
An additional way for students, parents and grandparents to save for education.
- Open at any age and the Diploma CD matures when the child turns 18 years old
- May make regular deposits as low as $10.
|
Member NCUA and Equal Housing Lender.