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Share Certificates
Invest your funds for specific terms, and you can earn a higher yield. Terms range from 91 days to 4 years.
Deposit as little as $1000 for a one, two, three or four year certificate. Or, take a short term investment for just 91 days or 180 days for a minimum deposit of $2,500.00. And we haven’t forgotten the children! We offer minors a one - year certificate for a $100 minimum. Your rate is guaranteed for the term of the certificate you open; a penalty will be imposed if certificate funds are withdrawn before the maturity date. Capitalize on the money you’ve worked hard for by getting guaranteed earnings on a safe (NCUA insured) investment.
Market Index Certificates
Today’s turbulent stock market has many investors searching for safer harbors, especially for savings that are earmarked for priorities like retirement or college. Our MEMBERS Market Index Certificate is a unique product that can provide security in a rocky market. This certificate is insured through the credit union, just like a traditional certificate. It pays dividends based on the increase in the Dow Jones Industrial Average, but your original deposit is never at risk. It will be returned to you, even if the stock market plunges.
Here's how it works. Your initial index value is the closing price of the Dow Jones Industrial Average (DJIA) on the trade date. Index values are then collected at various dates throughout the term of the market index certificate. (Averaging works to smooth the market fluctuations.) Upon maturity, the index value will be obtained. If the DJIA index is higher when your certificate matures than when it was established, you earn a percentage of the increase. But if it's lower, your entire deposit is still returned to you. Your original principal investment is never at risk. For many investors, that's just the security they need to weather the storm. MEMBERS Market Index Certificates are available in a 5 year term. This investment is available for both IRA and non-IRA deposits.
Individual Retirement Accounts
Brokaw Credit Union offers Traditional, and Roth IRAs, as well as the Coverdell Education Savings Account (formerly known as the Education IRA). The IRA is a personal tax-sheltered savings plan that allows a wage earner to build a substantial fund and potentially defer or pay no taxes on dividends earned on allowable principle. IRAs are a very smart way to save for the future!
And your IRA investment is a safe investment because it is separately insured from your other credit union deposits; up to $250,000, by the National Credit Union Administration.
Brokaw Credit Union offers the following IRA investments:
- IRA Share Certificate
IRA share certificate terms range from 1-4 years, and require a $500 minimum deposit. Your rate is guaranteed for the term of the certificate; there may be a substantial penalty for early withdrawal.
- IRA Share Account
If you prefer to save smaller amounts regularly, save with our IRA open deposit share account. Payroll deduction or the direct deposit of your contributions may be set up easily.
- IRA Market Index Certificate
Earn the rewards of investing in the stock market - without the risks! Invest in Brokaw Credit Union's Market Index Certificate that has an earnings rate tied to the Dow Jones Industrial Average. With as little as $500 and terms of 3 and 5 years, you can get the potentially high returns of today's dynamic stock market, with all the safety and security of an insured credit union certificate. Big Potential. Protected principal. Speak today with one of our IRA representatives.
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