Savings Rates Are On the RiseAre your employees looking for a way to securely save the money they’ve worked so hard to earn? It’s a saver’s market because many financial institutions, including Kinecta, are seeking to attract new clients with attractive returns. Credit unions are offering some of the best share certificate rates in years.
And how could savers not take advantage of the market? In addition to a “no risk” return, share certificates offer:
- Safety and peace of mind – Sleep well and know your money is secure.
- Flexibility – Terms from 3 months to 5 years.
- Certainty – As long as funds are not withdrawn before the term is over, you can calculate the exact amount of dividends you’ll receive by the end of the term.
- Federal Deposit Insurance – Share certificates are insured by the National Credit Union Administration (NCUA) up to $250,000.
- Great Returns – Such as Kinecta’s 2.75% APY* on an 18-month promotional share certificate.
Some savers prefer certainty with a longer horizon. Kinecta members can choose terms up to five years, though our 18-month promotional share certificate is currently offering the greatest return. So, short-term or long-term, Kinecta share certificates have you covered.
Why do share certificates generally offer a higher return rate than savings, checking, or money market accounts? The saver usually cannot withdraw the money during the term – the longer the term the better the return, that’s the tradeoff. However, there are unique share certificate products that offer savers the benefit of a high yield and allow access to the funds – Kinecta’s liquid certificate is the perfect example. This liquid certificate offers 1.50 APY
** for 12 months, with penalty-free withdrawals and unlimited deposits.
Additional information about share certificates can be found
here.
*$1,000 minimum balance required for 18-month Share Certificate. No additional deposits accepted during certificate term. There is a penalty for early withdrawal of certificate funds. Fees and other conditions may reduce earnings.
**Liquid Certificate requires $1,000 minimum balance to earn 1.50% APY. Liquid Certificate allows for penalty-free withdrawals of up to 50% of the start of day balance as of 12:00 AM on a daily basis. Early withdrawal penalties may apply. Withdrawals exceeding 50% of the start of day balance are subject to penalties. Unlimited deposits are accepted during the certificate term. $1,000 minimum balance required. Fees and other conditions may reduce earnings. 
