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PENFED CERTIFICATES
SECURITY LIKE A SAVINGS ACCOUNT WITH HIGH APYS
MONEY MARKET
CERTIFICATES
6 months** to 7 years
See our 15 Month
%
Annual Percentage Yield
Key Features:
- Invest as little as $1000
- High APYs for a great return
- At any time, choose to renew or close at maturity
- Available in branch, by phone and online
- Backed by NCUA insurance
IRA
CERTIFICATES
1 year to 7 years
See our 1 Year
%
Annual Percentage Yield
Key Features:
- Invest as little as $1000
- High APYs for a great return
- At any time, choose to renew or close at maturity
- Tax free earnings*
- Backed by NCUA insurance
Disclosures
Money Market Certificates
Annual Percentage Yield (APY) is accurate as of and is subject to change at any time.
We will establish your certificate on the day we receive your application and funding. Once purchased, the rate is locked in for the term of your certificate.
**6 Month certificates earn dividends on simple interest basis. All other certificate dividends are compounded daily.
You choose how your dividends are withdrawn: monthly OR at maturity.
3 payment options:
- Add dividends to certificate.
- Transfer dividends to Regular Share, checking, or MMSA (Money Market Savings Account).
- Have dividend sent to you in check form.
Early Redemption Penalties
Penalties are imposed for early withdrawal of Money Market Certificates. This will reduce earnings on the account. You must provide your request in writing.
Please refer to the Money Market Certificate Application for further details. For all certificates funded by ACH, funds cannot be withdrawn within the first 60 days of the account opening.
IRA Certificates
Annual Percentage Yield (APY) is accurate as of and is subject to change at any time. Fees may reduce earnings.
*Refer to a qualified tax advisor
Rates are subject to change monthly and are fixed for the term of the certificate. Certificates dividends compound daily. The minimum balance to open a certificate is $1,000.
Partial withdrawals for members over the age 59 1/2 (including Required Minimum Distributions) and qualified distributions regardless of age (including Disability) may be processed from IRA certificates without incurring an early redemption penalty.
Coverdell Education Savings
APY (Annual Percentage Yield) is accurate as of and is subject to change at any time. Fees may reduce earnings.
We will establish your certificate on the day we receive your application and funding. Once purchased, the rate is locked in for the term of your certificate.
Certificate dividends are compounded daily and credited monthly.
For all certificates funded by ACH, funds cannot be withdrawn within the first 60 days of the account opening.
Early Redemption Penalties
Penalties are imposed for early withdrawal of Coverdell Education share certificates. You must provide your request in writing.
If the certificate is redeemed within the first year, all dividends will be forfeited.
If after the first year, but prior to the maturity date, the early withdrawal penalty will equal 30% of what would have been earned if the certificate had been held to maturity, not to exceed total dividends earned.
*Please consult your tax advisor