An Add-On Certificate allows members to add on to their certificate balance during the term of the certificate.
- Opening Balance: $100.00
- Term: 12 Months
- Deposits: Additional deposits may be made via a Teller, Service Representative, automatic transfer, online or mobile transfer. There is no minimum or maximum amount required to be add-on to the certificate’s balance and funds can be added as often as they would like.
- Withdrawal: There is an early withdrawal penalty for closing the certificate early. This is the same penalty as certificates.
- Renewal: Members have a 7 calendar day grace period from the date of maturity to change their renewable term shares. Members will receive a renewal notice in the mail approximately 21 days prior to maturity. An unchanged account will automatically renew for the same term at the current rate, on its maturity date.
Benefits
- Makes you money by offering higher dividends on funds you don’t need routine access to.
- Saves you money by offering a 7 day grace period after renewal.
- Offers you peace of mind by knowing that you’ll earn the same rate throughout the term of the certificate.
Target
Members with at least $100 in their savings account.
Members who want to earn a higher rate than a savings account and are willing to limit the access to the funds.