Certificate Accounts
To help you earn the highest return on your investment dollar, Arkansas Federal Credit Union offers members More Options and More Choices, with Certificate Accounts in terms from 3 months to 60 months plus. AFCU offers five (5) options for certificates: Share, IRA, Save Smart, Ultimate Choice and Jumbo. A Certificate Account may be opened at any time. The minimum balance for Share and IRA certificates is $1,000. The minimum deposit for the Save Smart Certificate is $100 with a minimum monthly deposit of $25. The Ultimate Choice certificate has a $5,000 minimum balance and the Jumbo Certificates are also available with a minimum deposit of $100,000.
Click here to check our Certificate Rates.
Ultimate Choice Certificate
The Ultimate Choice Certificate offers the greatest flexibility in long-term investing. This 18-Month term certificate with a minimum $5,000 deposit offers a competitive rate plus you have the option to:
- Bump Your Rate - If AFCU's Ultimate Choice Certificate rate increases during the term of your certificate, you can bump your existing Ultimate Choice Certificate rate one time.
- Add to Your Certificate - You have the option to add money to your existing certificate on a monthly basis at the original rate. Add a minimum of $500 monthly, up to a maximum of 3 times the original certificate balance or $100,000, whichever is less.
Save Smart Certificate
AFCU's Save Smart Certificate offers members an easy way to plan for the future. With a minimum initial deposit of $100 and a minimum monthly commitment of $25, AFCU members are able to earn 1.50% below the current certificate rates on 3 month to 60 month plus terms. AFCU's Save Smart certificate is the perfect option to help you save for something special. Put money away towards a vacation, for Christmas, or just about anything. The Save Smart certificate is also the perfect option for those learning the value of saving.
Dividends
Dividends are calculated on your daily balance, paid, and compounded monthly. Arkansas Federal pays a higher dividend rate than most financial institutions. Since we have no stockholders, our profits are returned to our members in the form of higher dividends!
You may opt to receive dividend payments in one of several Member's Choice payment plans, including:
- Paid and compounded to the certificate.
- Paid to your Arkansas Federal Share Savings, Checking, or Member Freedom Money Fund.
- Paid as a monthly check mailed directly to you.
Member Friendly Renewal Terms
Members have a 10-calendar day grace period on renewable certificates, during which time they may withdraw funds or designate a new term. An unchanged renewable account will automatically renew for the same term and at the current rate, on its maturity. (Some exceptions may apply.)
Early Withdrawal Penalties
If certificate funds are withdrawn prior to their maturity date, a penalty will be assessed based on the term of your account. The penalty schedule is as follows: Terms of less than 1 year 30 days' dividends, Terms of 1 year or longer 90 days' dividends.
The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal. Exceptions may apply and are outline in Truth in Savings disclosure provided at the time of certificate opening.
Your Money is Safe Here
At Arkansas Federal, we are absolutely committed to the protection of our members' funds. Our professional management team ensures that your funds are safeguarded at all times. Each account is insured up to $350,000 ($100,000 by the National Credit Union Administration [NCUA], a U. S. Government Agency, and an additional $250,000 by Excess Share Insurance, Inc.)
How to Open A Certificate Account
A Certificate Account may be opened at any Arkansas Federal branch office or by contacting the Call Center at 982-1000 in central Arkansas or 800-456-3000 outside central Arkansas.
