What are the rules for opening a certificate?

Opening a certificate at Financial Plus Credit Union is a straightforward process with a few essential rules to consider:

1. Minimum deposit requirement: Financial Plus Credit Union sets a minimum deposit amount. This amount varies based on the specific certificate product you choose.
2. Term length: Certificates have a fixed term, typically ranging from a few months to several years. The term you select determines the duration for which your funds will be locked.
   

How much does it cost to open a certificate?

The cost of opening a certificate at Financial Plus primarily depends on the product you choose and can range from as little as $500. It's important to review the specific terms and conditions of each certificate product to understand the minimum deposit requirement before opening an account.

What are the advantages of a certificate?

1. Guaranteed returns: One of the most significant advantages of a certificate is the guarantee of returns. We provide a fixed interest rate for the entire term, ensuring that your investment will grow steadily over time.
2. Low risk: Certificates are considered low-risk investments because they are insured by the NCUA up to $250,000. This guarantee provides peace of mind, knowing that even in uncertain economic times, your principal investment is protected.
3. Higher interest rates: Compared to traditional savings accounts, certificates often offer higher interest rates. This means that your money can grow at a faster pace, helping you achieve your financial goals sooner.