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Term Share Certificates (also known as Certificates) feature the Credit Union’s highest savings rates. You choose from a variety of terms based on how long you are looking to commit the funds, the longer the term, the higher the interest rate.
Características y beneficios:
- Un mínimo de 1.000 dólares para abrir
- Plazos de 3 a 60 meses
- Tipo fijo durante la vigencia del Certificado1
- Tarifas de bonificación y complementos disponibles para los titulares de la cuenta de cheques Crimson Elite
- Harvard FCU representatives can help you manage your interest rate risk and liquidity needs with a Certificate Laddering Strategy
Note:
If you do not make a selection of a new certificate labeled as a “Special” prior to the expiration of your certificate promo term, you will be automatically rolled into a certificate of the next highest term length.
Certificate Laddering
Certificate laddering is a smart way to protect yourself against fluctuations in interest rates while giving you the security of knowing that you will be able to access at least some of your money within a relatively short time frame. The benefit of a certificate ladder is that you lower your risk and increase your return without losing access to at least some of your cash.
Let’s say you want to open a three year Certificate ladder with $15,000. You come to Harvard FCU and open a one year Certificate for $5000, a two year Certificate for $5000, and a three year Certificate for $5000. Each year is a rung on the ladder. When the one year Certificate matures, you reinvest that money in a three year Certificate because by that time your three year Certificate has two years left until it matures. As each year’s Certificate comes due, you roll it into a new three year Certificate.
You can choose a shorter or longer term when you begin the ladder, but the key is to use the same term for each one once you start rolling them over at maturity. At the end of three years you’ll have three Certificates with one maturing every year after that, so you’ll never have all of your money tied up long-term or at lower than market interest rates.
Talk to a Harvard FCU representative today to create a Certificate Laddering plan that works for you.
1. Si se retira anticipadamente cualquier parte del saldo de capital, se impondrá una penalización según el plazo del certificado. Para plazos de 12 meses o menos, la multa es de hasta 3 meses de intereses devengados. Para plazos superiores a 12 meses, la multa es de hasta 6 meses de intereses devengados.