Members interested in an
investment account can take advantage of a variety of
competitive-yield certificates. Generally, a Long Island
Community FCU certificate always earns you more than
a regular savings account, because you deposit a specified
amount for an established period of time.
Long Island Community FCU Certificates can be tailored
to fit your financial needs,
with terms as short as 6 months up to 2 years to lock in high earnings. The
dividend rates are usually higher than bank CDs and
our minimum deposit is only $1000.
Investing in certificates is a safe, simple way to
earn a competitive rate on your money.
- Invest short-term for maximum liquidity, or long
term for the highest possible rate of return.
- Certificate maturities vary from 6 months to 2 years.
- Minimum deposit of $1000.00 is required.
- 90 days interest penalty for early withdrawal of
6-12 month CD's.
- 180 days interest penalty for early withdrawal on
CD's whose terms are over 1 year.
- AUTOMATICALLY RENEWABLE
Unless specific arrangements are made with a Member
Service Representative, certificates will automatically
renew at maturity. We notify you of your impending maturity
date in plenty of time for you to think about your options.
And, if your obvious choice is simply to re-invest at
our current rate, you don't even have to get back to
us. We'll take care of renewing your CD automatically
if we don't hear from you! This provides convenience
for members, but still permits members nearly 30-days
to change the terms or conditions of the certificate.
Like all deposit accounts at Long Island Community
FCU, Certificates of Deposit (CD's) are insured by the
National Credit Union Administration (NCUA), an agency
of the U.S. Government, up to $250,000.