Regular, Jumbo and Plus Certificates of Deposit A well-planned savings program can insure your present and future financial stability. And what better place to save and earn dividends than at Spectrum Federal Credit Union? Here's a solid fixed-term investment account for members who want to earn a higher rate of return and do not anticipate needing access to funds during that term. If you have a special long-term savings goal - like a home purchase or your child's college tuition, then a Spectrum Share Certificate is the smart choice for you. A Spectrum Share Certificate offers you: Low $1,000 minimum to open. Certificates with terms of 24 months or more may take advantage of the 'Second Chance' Certificate option. This means that anytime during the course of the term, members have one chance to change the rate to its most current rate, should certificate rates go up. The new rate will affect the certificate from the time it's changed to the end of the term. Certificate Plus Certificates are 24-month term certificates which pay 25 basis points less than the regular 24-month share certificate but have the distinct advantage of having the ability to accept add-on deposits allowed anytime during the term. PLUS, the Second Chance option applies! Additionally, Spectrum Certificates offer: Competitive dividend rates compounded and paid monthly. Dividends can be set up to pay directly to your certificate (and compound your earnings), your Spectrum share/checking account or a check can be sent directly to you. Variety of maturity terms from 6 months to 60 months. You'll enjoy the flexibility of choice of terms to suit your individual needs. May be used as collateral for a loan. A certificate secured loan provides a low-cost method to borrow while preserving your investment. Cumulative Balances of Certificate Accounts, Share/Checking and Club Accounts Are Insured Up To $250,000 - by the National Credit Union Administration, a government agency. Additional share insurance deposit coverage (by American Share Insurance company) up to $250,000 is on all credit union deposit accounts currently being insured by the NCUA - bringing the total insured amount to $500,000. So your funds are safe and secure! Automatic roll-over at new rate for the same term. At maturity, you have a 7-day grace period to determine your reinvestment options. If you want to renew your share certificate, simply do nothing - Spectrum will conveniently renew it for you! Certificate Laddering Adds Up To A Good Investment Strategy A good strategy to maximize your certificate earnings potential while increasing your liquidity is 'Certificate Laddering'. Certificate Laddering means buying several certificates at one time for different terms. As each matures, you reinvest for a longer term, taking advantage of higher yields. Eventually, all certificates are earning higher yields because of their longer terms, yet because they'll mature at different times, you have the liquidity you want should a need arise. For example, if you have $10,000 to invest, you can purchase five $2,000 certificates of deposit:   Certificate #1 for a 6-month term Certificate #2 for a 12-month term Certificate #3 for a 24-month term Certificate #4 for a 36-month term Certificate #5 for a 60-month term As each certificate matures, roll each into a 60-month term certificate. In only four years, you will have a 60-month certificate maturing every year. That way, you can access cash every year as a certificate matures, meanwhile, taking advantage of the high earning power of a longer term certificate. You may use different terms and different amounts but the outcome will always be that you are maximizing your earning potential while increasing your liquidity. At Spectrum, the minimum to open and earn certificate dividends is only $1,000. This means you may begin your 'laddering' strategy with as little as $5,000 (to open five certificates). Of course your earning potential increases the more you invest.