Have you been trying to start a long-term savings fund?
In your quest to find a place to park your savings, you may have considered a
share certificate
(referred to by banks as “certificates of deposit” or just “CD”).
At MCCU, we’re happy to provide you with a product that offers attractive dividend rates without the accompanying restrictions:
Flex Certificates.
What is a Flex Certificate?
Just like traditional certificates, Flex Certificates offer attractive dividend rates, are federally insured, and have a predetermined maturity date. However, Flex Certificates offer greater flexibility and accessibility.
Here are the two types of Flex Certificates that MCCU offers:
Regular Flex Certificates
Our regular Flex Certificates offer you the opportunity to tap into a higher dividend rate, plus you can make additional deposits of $500 or more any time during your Certificate term.
Flex Plus Certificates
When you open a traditional Certificate, you leave the initial deposit to gather dividends until the certificate matures. If you withdraw your funds or close the certificate early, you’ll have to pay a penalty.
With a Flex Plus Certificate, you can make a one-time withdraws of some or all of your funds before it matures without paying a penalty, as long as you leave the minimum balance in the account. This can be convenient if you suddenly need to access your funds in a pinch.
And just like the regular Flex Certificate, you can make additional deposits of at least $500 any time during the Certificate term.