Many members would like to invest in Share Certificates, but have concerns of locking into an interest rate for an extended period of time, especially given the prospect of rising rates. Ohio Catholic FCU is now offering a Bump-Rate Share Certificate* for members who want the security of a longer-term product with the flexibility to bump the rate at no charge should interest rates rise. The bump-rate option is available on 36-month, 60-month, and 84-month Share Certificates starting at $25,000 and allows members the option to “bump” the rate to Ohio Catholic FCU’s standard rate for that term. There is no charge for the bump but it must be initiated by the member and can be done by phone, email, or by stopping by one an Ohio Catholic FCU branch.
Share Certificate and IRA Certificate Rates (5) IRA Certificates 12 Months and Longer (Including Bump Rates)
|3-5 Months NON IRA||0.20%||0.25%||0.30%|
|6-11 Months NON IRA||0.20%||0.35%||0.40%|
|36-Month Bump (6)||1.35%||1.45%|
|60-Month Bump (6)||1.70%||1.95%|
|84-Month Bump (6)||1.95%||2.45%|
(5) Rates fixed at time of investment. Minimum Deposit $500.00. IRA Certificates minimum deposit is $2,500.00. Total share certificates balances qualify for rate. Substantial penalty for early withdrawals. (6) Bump Share Certificate – Member has the option to initiate a rate bump to the OCFCU prevailing rate for that term at any time during the fixed period.