Energy Capital Credit Union

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Certificate Account Rates

Certificate Account Rates (effective November 1, 2018)
Certificate Account Products Dividend Rate Annual Percentage Yield (APY)* Minimum Balance Requirement to Open and Obtain APY*
90 Day Jumbo 0.75% 0.75% $50,000
6 Month 1.90% 1.92% $1,000
12 Month 2.30% 2.32% $1,000
24 Month 2.60% 2.63% $1,000
36 Month 2.80% 2.84% $1,000
48 Month 2.90% 2.94% $1,000
60 Month 3.15% 3.20% $1,000
24 Month Rising Rate 2.45% 2.48%  $1,000
24 Month Rising Rate (New Money) 2.50% 2.53% $1,000

*APY = Annual Percentage Yield. Rates are subject to change. APY is accurate as of the last dividend declaration date. The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors.

Rate Information. The disclosed dividend rate and APY are those that were offered within the most recent thirty calendar days. The dividend rate and APY on Rising Rate Certificate Accounts may change once during the original term of the certificate at the member's option in which event the rate of the certificate will change to the current rate being offered on certificates of the same term at the time that the Rising Rate option is exercised. The Rising Rate option is not available during any renewal term. The dividend rate and APY on all other certificate accounts are fixed and will be paid until the first maturity date on the certificate. 

Minimum Balance Requirements. To open any account, you must deposit or already have an existing savings or checking account. The minimum balance requirements applicable to each account are stated above. If the minimum daily balance is not met each day of the dividend period, you will not earn the stated Annual Percentage Yield. The minimum balance for the 90 Day Internet Special is $10,000, 90 Day Jumbo is $50,000, and all other certificate minimums are $1,000. 

Transaction Limitations.  After your account is opened, you may make withdrawals, however penalties may apply. Deposits are not permitted during the term of the certificate. You may withdraw dividends that have been paid without penalty.

Maturity. Your account will mature as stated on your account receipt or renewal notice. 

Early Withdrawal Penalty. Your account will mature after the maturity date stated on your certificate account as set forth above. We will impose a penalty if you withdraw any of the funds in your certificate account prior to the maturity date. The penalty shall be equal to 90 days of dividends for terms of less than 12 months and 180 days of dividends for terms 12 months or greater. You may not make partial withdrawals of principal prior to the maturity date. No penalty will be imposed if withdrawal of principal is made following your death or your total and permanent adjudicated disability. 

How the Penalty Works. 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. 

Withdrawal of Dividends Prior to Maturity. Dividends paid during any month may be withdrawn without penalty. The Annual Percentage Yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings. 

Renewal Policies. The renewal policy for your accounts is stated in the rate schedule. For certificate accounts, your account will automatically renew for another term upon maturity. You have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. 

Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. 

Nature of Dividends.  Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. 

Compounding and Crediting. The dividend period is the accounts term. It begins from the date that your account is opened and ends on the stated maturity date unless renewed, and dividends will be compounded monthly and will be credited monthly. Your Annual Percentage Yield assumes dividends will remain on deposit until maturity. A withdrawal will reduce earnings. Accrued dividends (less any early withdrawal penalty) will be paid when you close your account.  

Balance Computation Method. For dividend bearing accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in your account each day. 

Accrual of Dividends. For dividend bearing accounts, dividends will begin to accrue on the business day that you deposit cash and non-cash items (e.g. checks) into your account. 

Fees and Charges. Any fees and charges applicable to your account are disclosed separately in the Fee Schedule provided in conjunction with this Account Disclosure. 

Renewal Policy for 90 Day Internet Special Certificate Account. The minimum opening deposit is $10,000, and interest is credited at maturity. Your certificate will not renew automatically, your certificate funds will be deposited into your savings account. If you do not have a savings account, your funds will be deposited into your checking account. 

National Credit Union Share Insurance Fund. Your savings are federally insured by the National Credit Union Administration (NCUA), a U.S. Government Agency, to at least $250,000 and backed by the full faith and credit of the United States Government. 

View Truth in Savings Account Disclosures here.