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
 

Club 18
An additional way for students, parents and grandparents to save for education.

• Open at any age and the Club 18 matures when the child turns 18 years old
• May make regular deposits as low as $10.

NCUA insured to at least $250,000