Great Lakes Credit Union Launches Jumbo, Super Jumbo Certificates, Providing Members with Low-Risk Means to Multiply their Savings
Bannockburn, IL. (June 22, 2022) - Great Lakes Credit Union (GLCU) is expanding its range of deposit offerings with the introduction of two products that can help members grow their savings more quickly: Jumbo and Super Jumbo Certificates. Federally insured by the National Credit Union Administration (NCUA) up to $250,000, these certificates provide a low-risk way for members to earn a higher return on their funds and multiply their savings in a predictable way.
In today's volatile rate environment, that stable growth is important to consumers across the financial spectrum, and GLCU is responding to their concerns.
"GLCU's new Jumbo and Super Jumbo Certificates complement our existing suite of financial solutions by providing high-net-worth members with deposit products that can significantly help them achieve their savings goals," said Steven Bugg, President and CEO of GLCU.
With a Jumbo or Super Jumbo Certificate, individuals enjoy a higher annual percentage yield (APY) on their funds, meaning they earn a higher dividend rate on the balance than they would with most regular savings accounts. Generally, the longer the term of the certificate, the higher the APY a person will receive.
Compared to a traditional certificate, Jumbo and Super Jumbo Certificates require a larger balance to open as they offer a higher return on funds. Once the certificate matures, the account holder can withdraw the money without penalty and either collect the dividends earned or reinvest.
GLCU's newly added certificates offer competitive dividend rates as well as flexible terms for members, ranging from 12 to 60 months. The credit union's 60-month Jumbo Certificate offers 1.05% APY* while its 60-month Super Jumbo Certificate offers 1.20% APY*.
The new certificates are available to existing members, but consumers who are not yet members of GLCU can join and take advantage of the competitive dividend rates.
For those saving for future goals, a Jumbo or Super Jumbo Certificate can be an attractive option that can provide peace of mind, especially through current economic climate changes.
Read more about the terms, conditions, and disclosures, and learn how GLCU can help you reach new levels of financial success with its Jumbo and Super Jumbo Certificates here.
GLCU's Jumbo and Super Jumbo Certificates
GLCU's Jumbo Certificate: Benefits and Requirements:
• Earn up to 1.05% APY*
• Great customer service and 24/7 access with online and mobile banking
• No hidden fees
• Predictable growth
• Federally insured by the NCUA up to $250,000 per member
• Flexible term options starting at 12-months to 60-months
• Minimum balance required: $100,000
GLCU's Super Jumbo Certificate: Benefits and Requirements
• Earn up to 1.20% APY*
• Great customer service and 24/7 access with online and mobile banking
• No hidden fees
• Predictable growth
• Federally insured by the NCUA up to $250,000 per member
• Flexible term options starting at 12-months to 60-months
• Minimum balance required: $250,000
*APY = Annual Percentage Yield. Current as of June 16, 2022. All dividend rates and APY may change at any time. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts. Penalties apply for early withdrawal from Share Certificates.
About Great Lakes Credit Union
Founded in 1938 and headquartered in Northern Illinois, GLCU is committed to financial empowerment for you. As a not-for-profit financial cooperative with over $1 billion in assets, GLCU is proud to serve more than 80,000 members in the Chicagoland and surrounding areas. Learn more about GLCU's accounts, educational initiatives and community development programs at glcu.org