compare your options
Certificates
| Share Certificate | President's Special | Building Block | |
| Minimum amount to open | $1,000 | $1,000 | $100 |
| Available Term(s) | 3 - 61 months | Varies (check current rate sheet) | 18 months |
| Additional requirements | At least half of the opening deposit must be new funds - from outside ARHCU. Maximum deposit is $100,000. |
Member must set up automatic deposits of at least $50 per month. | |
| Dividend Tiers | $1,000 - $9,999 $10,000 - $24,999 $25,000 - $49,999 $50,000 - $99,999 $100,000 + |
$1,000 - $9,999 $10,000 - $24,999 $25,000 - $49,999 $50,000 - $99,999 $100,000 + |
NONE Will earn a fixed rate while "building". At $1000, may be moved into Regular Certificate. |
| FEATURES APPLICABLE TO ALL CERTIFICATES | Dividends are paid monthly (the first of each month) for the term of the certificate. | ||
| Dividends are calculated based on the average daily balance method, which applies the periodic rate to the average daily balance in the certificate for that month. | |||
| Dividends can be withdrawn at any time by transfer or automatic check withdrawal monthly. | |||
| The Annual Percentage Yield assumes compounding of dividends. | |||
| Deposits are insured by the NCUA and, if necessary, American Share Insurance. | |||
| FLEX OPTIONS (Only available on terms of 12 months and higher) |
Add-on This feature allows additional deposits during the term, which gives the potential to increase the dividend rate with a higher balance. Additions are limited to once per year of the term. APY may increase if the principal balance moves into a new tier. |
50/50 This feature allows the member to withdraw the balance of the certificate without penalty anytime after half of the term has passed. |
|
| Who might best benefit from this FLEX Option? | Members who have other funds coming due elsewhere that they would like to add to this investment. | Members who may need the funds before maturity and would like the option of early withdrawal without penalty. | |
| CERTIFICATE LOANS | |||||||
| Loans are available on specific ARHCU Certificates.
The loan may be taken at any time and the term of the loan will match the remaining term of the certificate. The Annual Percentage Rate charged on the loan will be established at 3% over the rate of the certificate. The member may make either periodic payments or a balloon payment when the certificate comes due. |
The following certificates may be used to secure a loan:
Regular Certificate
Building Block Certificate |
||||||
| WITHDRAWALS & CLOSING | |||||||
Any withdrawal of principal is considered a withdrawal of the entire balance and will close the certificate.
An early withdrawal penalty will be computed on the entire certificate balance if any principal is withdrawn. The early withdrawal penalty is the greater of:
a) the increased earnings resulting for immediately reinvesting the amount withdrawn in another certificate with ARHCU;
OR
b) an amount equal to the dividends earned or that could have been earned at the rate then being paid on the certificate for a specific number of days:
If the early withdrawal penalty is more than the dividends that have already been credited to the certificate, the penalty shall be deducted from the principal or any other ARHCU account. Exceptions to the early withdrawal penalty include: 1) The withdrawal is made subsequent to the death of any owner of the certificate; 2) Upon automatic renewal, if a withdrawal is made within the 10-day grace period following the automatic renewal; 3) the withdrawal is made on a 50/50 Flex Certificate after half the term has passed; 4) the withdrawal is made as a result of liquidation of the credit union. |
|||||||
If you are interested in securing your savings, just click here to let us know or call us and speak with a Telephone Services Associate 24 hours a day/7 days a week 916.985.6700 or 800.669.1313 (outside 916).
