Competitive rates and growth is what you will find when you open a Cornerstone FCU Share Certificate. Cornerstone offers numerous Certificate programs with specified terms and fixed dividend rates.
- The minimum balance required to open a Share Certificate account is $1,000
- The minimum balance required for a member under the age of 18 is $500
- Dividends on certificate accounts are computed on the daily balance, compounded and posted monthly to the account
- You can withdraw dividends credited to this account before maturity without penalty.
- Any principal withdrawn before maturity will be subject to the following penalties:
– Original maturity of one year or less, the penalty imposed will equal 90 days worth of dividends.
– Original maturity of more than one year, the penalty imposed will equal 180 days worth of dividends.
- The Certificate account will automatically renew at maturity unless Cornerstone is notified otherwise by the account holder
– The renewal term will be the same as the original term
– The dividend rate will be the same as offered on new term Share Certificate accounts
– You will be notified prior to maturity and will have ten days to contact the credit union.
IRA Certificates of Deposit are also available at Cornerstone and require only a $500 minimum deposit to open.