Jump-Up Certificate Accounts
You're covered when dividend rates go up or down with DCU's 15 or 27 month Jump-Up Certificates. If rates go up during the 15 or 27 month period, you can "jump-up" to the higher rate, one time, for the rest of the term. What's more, you get one more chance to jump-up during each term you renew your Jump-up Certificate. Regular, Jumbo, and IRA Jump-Up Certificates are available.
If you have funds saved you don't anticipate spending in three months, shouldn't you get the highest possible return on your money? That's what Jump-Up Certificates are all about. Put money in a Jump-Up Certificate for the term you won't need to touch it and we'll give you a great dividend rate. The longer you agree to leave it in, the higher the rate you'll earn. Check current Certificate Dividend Rates and Annual Percentage Yields.*
Jump-Up Certificates are the perfect way to save for an education, special vacation, or as part of your long-term financial planning. A DCU Certificate allows you to invest the dividends earned during the term of the certificate – so you actually earn dividends on your dividends. Or, if you prefer, you may choose to have the dividends transferred to your savings account on a monthly basis or at maturity.
* Annual Percentage Yield (APY) is a figure calculated using a federally-mandated formula. It's designed to help you compare the return you'll get in a uniform way between the certificate, savings, and money market accounts offered at various institutions. It tells you at what percentage your money will grow in one year at the same dividend rate – including the effects of compounding. For example, the APY on a 15-Month Jump-Up Certificate would be what you earned at the end of a year if you did not add to or subtract from the balance along the way, nor withdrew any dividends.
If you have a Loyalty Checking Plus relationahip when you open or renew a DCU Certificate, you'll automatically receive the highest published dividend rate for that certificate. Other great rates are available. If you add at least $5,000 to the balance of a maturing DCU Certificate, you'll receive an additional ¼% for the next term.
A Jump-Up Certificate may be opened in minutes at any branch, by mail, or by calling the Information Center. DCU mails you a maturity notice when your certificate is about to mature. Unless you notify us you would like to withdraw the funds or change your term, we automatically renew your current certificate for the same term at the dividend rate in effect at renewal. There is no need to worry about new paperwork or signatures, everything is completed for you.
All DCU deposit accounts are federally insured up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency. Individual Retirement Accounts are insured for an additional $250,000 per member.
Open a Jump-Up Certificate by mail by downloading and printing a DCU Certificate Application and Disclosure (.pdf format). Mailing instructions are included on the form. You can also open a DCU Certificate at any DCU branch. If you plan to transfer money from another DCU account, you can open one by calling our Information Center at 800.328.8797, weekdays from 8:00 a.m. to 11:00 p.m., and Saturdays from 9:00 a.m. to 3:00 p.m., Eastern time.
Certificate rates are subject to change weekly; but once a certificate is issued, the rate will remain in effect for the term of the certificate. With Jump-Up Certificates, once the change has been made, the adjusted Dividend Rate and Annual Percentage Yield (APY) will remain in effect for the remainder of the term. Funds earn dividends from the first Business day of deposit through day of withdrawal, are compounded daily and posted monthly. Penalties apply for early withdrawals. Refer to DCU's Truth-in-Savings Disclosure and Account Agreements, Certificate Account Disclosure and Agreement, and Schedule of Fees and Service Charges. With Jump-Up Certificates, you are allowed to jump your rate once during the term of the certificate. Upon renewal, it will be considered a new term at which time you may exercise this option again.
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Digital Federal Credit Union
220 Donald Lynch Boulevard PO Box 9130 Marlborough, MA 01752-9130 508.263.6700 • 800.328.8797 |
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