Have you ever considered the benefits of a certificate account? To give you some context, a certificate account is a savings certificate with a fixed maturity date that requires the initial deposit amount to remain for the term of the certificate. Orlando Credit Union is currently offering a great opportunity to maximize your savings with a limited-time certificate special. Earn 3.00% APY** on a 25-month certificate with a minimum deposit of $1,000. If you find yourself wondering what makes a certificate more financially beneficial than a standard savings account, consider asking yourself the following questions.
First, ask yourself, “what is my preferred way of saving?” If you find yourself gravitating toward the methods of either utilizing a generic savings account or putting cash away in an envelope, consider how each of those tactics are helping you make the most of your money. While you may have a small annual percentage yield (APY) with a standard savings account, it does not equate to the higher percentages that typically come with a certificate account. Not to mention, putting cash away in an envelope with each paycheck offers you no additional gain. While you may have a tangible visualization of where exactly your money is going, you are not earning any dividends by leaving your cash in envelopes. Therefore, if you are working to maximize your savings, a certificate account is a great way to make that happen.
This leads to the next question you should ask yourself as you evaluate the benefits of a certificate account. What are your savings goals? With each person comes a unique set of goals that circle around their specific financial needs. If you often find yourself caught up in the hustle and bustle of life, causing you to frequently forget to put your money into savings, a certificate account allows you to set it and forget it. This means that you can make that initial deposit and still watch your money grow thanks to the competitive dividend rates offered at Orlando Credit Union.
We work hard for our money, so it only makes sense that we are doing the most that we can to make it count. A certificate account is a great option for those who want to boost the growth of the savings that they don’t immediately need. As previously mentioned, for a limited-time, Orlando Credit Union is giving members the ability to earn 3.00% APY** on a 25-month certificate with a minimum deposit of $1,000.
What are you waiting for? Look to Orlando Credit Union for high-yield savings. All of Orlando Credit Union’s certificate accounts offer competitive dividend rates, term options from 6 to 60 months, and an increased APY with higher balance amounts or longer terms. For more information, or to open a certificate today, visit OrlandoCreditUnion.org and click on the “Open an Account” button, or speak to a member service representative in one of our branches.
**APY=Annual Percentage Yield as of 09/24/22. Minimum opening deposit is $1,000. After the initial term, the 25-month certificate will automatically renew to the 24-month certificate, earning the then current APY offered at the time of renewal. Rates subject to change without notice. Penalties may apply for early withdrawals prior to maturity. Fees and penalties may reduce earnings.
Federally Insured by NCUA. The combined total of your accounts will be insured up to $250,000.
Advertisement
