Bump Rate Share Certificate
Bump Rate Share Certificate
You Asked, We Delivered. You Can Now Open Traditional & Bump Certificates Online!
Lock in a great rate now with the one–time option to bump it up to an even better rate during the term of your certificate.*Share Certificates, similar to a bank’s Certificate of Deposit (CD), offer low-risk opportunities for those USSFCU members who don’t need short-term access to their savings. Take advantage of the opportunity to earn a specific return at maturation along with the option to increase your rate once during the term of the certificate.
How to Open Your Share Certificate Online
USSFCU Members can now apply for traditional and bump certificates via myUSSFCU online and mobile banking!
- Log into my.ussfcu and select the “Add Shares” option.
- Click Add Share(s) to an Existing USSFCU Account.
- Select Share Certificate from the Available Products dropdown.
- Pick Your Type of Certificate: Review the certificate disclosure, enter a few quick details about yourself, and fund the certificate.
Important: All certificates must be funded by internal transfer from an existing USSFCU account. Funds must be available in your USSFCU account at the time of opening.
Enjoy Our Suite of Certificates
A stable and secure way to diversify your investment portfolio.
TRADAvoid the ups and downs of the market with a traditional certificate. Yields are paying out at record highs. |
IRALooking for long-term security without the headache of a fluctuating market? Our IRA certificate is the solution. |
BUMPSecure a great rate now with the one-time option to bump it up to an even better rate during the term of your certificate. |
BIZOur business certificates offer your business secure and stable solutions for both short and long-term goals. |
Need a little guidance or would like to open up a certificate now?
800.374.2758 | [email protected] | my.ussfcu.org
Certificate Details
- No set up or maintenance fees with a $1,000 minimum deposit
- Eligible for a one-time rate increase during the certificate’s term without penalties**
- Fixed dividend rates set higher than regular savings dividend rates
- Wide range of terms available – 36, 48, and 60 months
- Dividend rates based on length of term and balance
- Automatic renewal upon maturity***
Open Your Certificate Online - FAQs
Q: What types of certificates can I open online?
A: Traditional and Bump Rate certificates. IRA and business certificates cannot be opened online.
Q: What are the available certificate terms?
A: USSFCU offers a wide range of certificate terms from 3 months to 5 years. For a full list, including the most up-to-date interest rates, visit here.
Q: What are the minimum deposit requirements?
A: The minimum balance requirement to open an online certificate account is $1,000.
Q: Can I open my certificate as an Individual Retirement Account (IRA)?
A: IRAs cannot be opened online. IRAs may be opened by visiting one of our branches or through our Retirement Central online portal.
Q: How do I open a CD for my business?
A: Business CDs may be opened by visiting one of our branches, or calling a Member Business Service representative at 800.374.2758 (option 5).
Q: Will members be able to select an odd number of months (term) for their Certificate?
A: No. Effective June 18, 2024, we no longer offer a range of months for members to choose when opening a share certificate. For example, a 6-month certificate will only have a term of 6 months.
Q: When are the funds transferred into my certificate account?
A: Upon your completion of the online application, and our review and approval, the funds will be immediately debited from your USSFCU account. ** All certificates must be funded by internal transfer from an existing USSFCU account. Funds must be available in your USSFCU account at the time of opening.
Q: How do I receive opening documents for the certificate I open online?
A: Upon account approval, you will receive notification via email that your disclosure documents are ready for electronic signature. Once submitted, a copy of your completed disclosures will be emailed to the email address you provide. If you do not complete electronic signing within 5 business days, we will print a hard copy of the disclosure and mail it to the physical address provided.
Q: Can I open multiple certificate accounts online?
A: Yes, you can open multiple certificates under the same account during the same transaction by adding each individual certificate to your list of selected products.
Q: What if I want to add a Beneficiary to the Certificate?
A: Online applications do not currently provide for a beneficiary option. Please call 800.374.2758 to add the beneficiary to the certificate once it has been established.
Q: Are there any fees?
A: USSFCU charges no account set-up fees or monthly or annual maintenance fees on a certificate account. Early withdrawals are subject to penalty. Fees may reduce earnings. See Fee Schedule at ussfcu.org/fees for more details.
Q: Do you pull credit for certificates?
A: No.
Q: Is my certificate safe?
A: All deposits are Federally insured by NCUA up to $250,000.
Now, opening a share certificate is just a few clicks away. Start growing your savings with USSFCU today!
How Does Share Insurance Work?
Deposits at all federal credit unions and the vast majority of state-chartered credit unions are covered by National Credit Union Share Insurance Fund (NCUSIF) protection. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.
Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to at least $250,000 per individual depositor. The National Credit Union Administration (NCUA) is the independent agency that administers the NCUSIF. Like the FDIC's Deposit Insurance Fund, the NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government.
For questions about the NCUA’s share insurance coverage, call 1.800.755.1030, option 1, Monday through Friday, 8 a.m. to 5 p.m. Eastern, or send an email to [email protected]. This toolkit contains a variety of helpful resources for credit unions regarding the Share Insurance Fund.
Share Insurance Toolkit from MyCreditUnion.gov
The toolkit has great resources like estimators, publications, videos and more.
*APY = Annual Percentage Yield. **During the term of your Bump Rate Share Certificate, you are permitted to make a one-time request to adjust your dividend rate at your discretion. To adjust the rate on the Bump Rate Share Certificate, an owner of the Certificate must contact the Credit Union to request the increase. The rate of the Bump Rate Share Certificate will be adjusted on the date the Credit Union receives the request. The rate will be adjusted to the rate currently in effect for our Bump Rate Share Certificate at the time the request is made. When you elect to exercise the Bump Rate Option, the new dividend rate will be paid for the remaining term of your account. A one-time dividend rate increase will not extend the maturity date of your account. The Credit Union makes no guarantee you will be able to exercise this option since future dividend rates cannot be predicted. Early withdrawal penalties may apply if funds are accessed before the Certificate’s date of maturity. On the maturity date the Certificate balance will be renewed as a Bump Rate Share Certificate for the same term. The renewed Certificate will have the Bump Rate option. A minimum deposit of $1,000 is required to open and maintain a Bump Rate Share Certificate. You will earn dividends for every day during the period that your account equals or exceeds the minimum daily balance requirement. The APY assumes dividends will remain on deposit until maturity. The dividend period on your account begins from the date that your account is opened and ends on the maturity date, unless renewed. Fees may reduce earnings. See Fee Schedule at ussfcu.org/fees for more details.
Bump-Rate Certificate Account Disclosure and Agreement
***Member has 10 days from the maturity date to make changes with no penalty. The Bump Rate Share Certificates may not be pledged as collateral for shared secured loans with the Credit Union.