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- About LGE Community Credit Union
Certificates
Certificates
Turn time into money. A certificate allows you to earn a higher dividend rate in return for leaving your funds on deposit for a specified period of time.
Certificates of Deposit
Once you choose a certificate, you will earn the same rate throughout the term of the deposit. And you can rest easy knowing that your funds are federally insured, up to $250,000.
LGE CDs feature:
- Terms from 6 to 60 months
- Minimum balance of $1,000
- 10-day grace period after renewal to make changes
- Convenience of automatic renewal, subject to the grace period
- After initial deposit, no additional deposits
- No partial withdrawals - certificates closed prior to maturity incur an early withdrawal penalty
IRA Certificates of Deposit
Have funds idling in an IRA? Time is on your side - combine the tax advantages of an IRA with the earning power of a CD.*
IRA certificates work just like standard certificates, but they live inside your IRA to boost your savings while you wait for withdrawal.
*Please consult your tax advisor regarding tax benefits and deductions.
Bump-Rate Certificate
Bump-rate CDs allow you to "bump" your rate one time during the term of your certificate. If rates increase during the term of your CD, you have the power to earn even more.
Bump-rate certificates are available in a 33-month or 55-month term. They cannot be used as IRA certificates and cannot be used as collateral on a Certificate Secured Loan.
CD Laddering
If you’re looking for a smart way to grow your savings, CD laddering could be the perfect solution. It’s a simple strategy that helps you earn more interest while giving you regular access to your funds.
How CD Laddering Works
CD laddering involves spreading your savings across multiple CDs with different maturity dates. This way, instead of locking all your money into one long-term CD, you have staggered access to your funds over time.
First, decide how much money you want to invest in CDs. This will help you plan the laddering strategy effectively.
Next, choose your CD terms. A common approach is to choose CDs with staggered maturities. For example, a 3-year ladder might consist of a 12-month CD, a 24-month CD, and a 36-month CD. As each CD matures, you reinvest the money into a new 36-month CD, keeping the ladder going. Over time, you’ll have regular access to a portion of your savings, while still earning higher interest from longer-term CDs.
Finally, continue to monitor and adjust. Keep an eye on interest rates and your financial goals. Adjust your CD laddering strategy as needed to maximize your returns and meet your financial objectives.
Why Use a CD Ladder?
- Flexibility: You won’t have to wait years to access your savings. With CDs maturing at different times, you can access part of your funds when you need them.
- Higher Interest Rates: Longer-term CDs generally offer better rates, so you can earn more over time.
- Reduced Risk: By spreading your money across different terms, you’re not putting all your eggs in one basket, reducing the impact of rate changes.
Ready to start building your ladder?
LGE offers a variety of CD terms to fit your savings goals. Check out our rates & terms or stop by your nearest branch to learn more and get started today.
Want to "bump" your existing bump certificate?
Give us a call at 770-424-0060 or visit your nearest LGE location.