For years, savers have had to contend with historically low rates on certificates. Even when they commit to lock up their money for several years or face penalties for early withdrawal, customers have frequently had to settle for rates of 1% or less.
Rates have recently begun to climb. Although many credit unions have upped their certificate and other savings rates, not all credit unions have the ability to offer top rates to their members. Finding the best certificate rates used to take a lot of searching, and while it was worth the effort in the long run, it still took more time than most individuals wanted to spend. Finding excellent rates on certificates has become much easier, and as you’ll see below, your solution could be just a click away.
Do Some Research
It can take a lot of hard work to find the best rates on certificates. Calling credit unions or going to their websites is a great way to determine their current rates. Then, make a list of the best rates for different certificate terms.
Rates usually change based on how long the certificate term is, how much money you have to invest, and whether or not you are already a member of the credit union. When you think about all of these things, comparing offers can be challenging, but research can go a long way to help you make a great choice for you.
Get Everything You’re Due
One thing to remember is that rates aren’t everything. For example, a high rate might not be as good as you think if the credit union/bank you go with also charges hefty fees on other products or services—going with a credit union/bank that offers somewhat lower rate, on the other hand, may be worthwhile if you also get some added benefits, such as loan discounts or access to special accounts that offer above-average rates. You also want a credit union that provides you with the account features, incentives, and other benefits that you are entitled to.
With rates rising across the financial industry, savers can recall why it used to be so crucial to get the best returns possible on certificates. If you’re willing to lock up some of your savings for a period of time and want to ensure that you earn dividends for your efforts, then using Heritage Finance Credit Union for some great certificate rates is the first step toward getting your money to work harder for you.