Certificates
Share Certificates: A fixed rate, closed-end time deposit account.
A Share (Savings) Certificate is actually a contract between FNEFCU and you. First New England agrees to pay a fixed interest rate on a specific sum of money for a certain amount of time.
- Guaranteed Earnings: Funds are guaranteed to earn a specific rate of interest for the entire term of the Certificate Account.
- High Yield: Dividends are calculated on a day-to-day balance and are paid monthly and at maturity. Dividends can be compounded or deposited to your share (savings) account, or mailed to your home.
- Flexible Terms: Terms from six months to five years are available.
- Affordable Minimums: Minimum deposits start at $1,000.
- Easy to Open: Visit a branch office or if you already have funds available in the credit union, all it takes is a phone call.
- Convenient: The option is yours whether to have your Certificate Account renew automatically or transfer to your share (savings) account.
- Borrowing Power: Use your Certificate Account as collateral for a secured loan at a rate of 2% over the certificate rate.
- Insured Safety: Certificate Accounts, together with your other credit union accounts, are federally insured up to a total of $250,000 by the National Credit Union Administration, a US Government agency.
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