Save More. Earn More!

We're excited to announce that FiCare is lowering the minimum balance on new Share Certificate Accounts to $500!

Now, it's easier than ever to get started and watch your money grow.

Why the Change?

Certificates have always been an excellent tool to grow your savings. But this update provides even more strategic benefits.

More Opportunities

With a lower minimum balance, more members are able to take advantage of the higher yields available through Certificates.

It's part of our commitment to help all members save and earn more.

Goal & Term Matching

Members often choose their Certificate term based on goals. For example, if you're saving for a family vacation next year, you might choose a 1-Year Certificate so the funds are available right before your trip. 

A challenge is that members usually have multiple goals and due dates (e.g., vacation, new car, college). Higher minimum balances can restrict how many Certificates / goals members can conveniently save for - but not anymore!

Lower minimum balances allow you to open more Certificates to match your specific goals.

Easier to Break Up Investments

Parents and grandparents regularly use Certificates as a way to put money aside for their childrens' / grandchildrens' future. 

Lower minimum balances on Certificates makes it easier for members to open a CD for each child / grandchild vs. one general Certificate for all.

Strategic Laddering

Certificate laddering is a popular investment tactic. Instead of putting all your money into a single Certificate, you break up the funds so money is always coming due.

For example, assume you have $20,000 to invest in a Certificate. Instead of putting all $20,000 into one CD, you break it up, such as:

• 1-Year CD = $4,000

• 2-Year CD = $4,000

• 3-Year CD = $4,000

• 4-Year CD = $4,000

• 5-Year CD = $4,000

This tactic ensures that a portion of your investment is always available annually. You can either withdraw those funds or reinvest them in a new Certificate (possibly at higher rates).

It's an excellent way to lock in today's higher yields, while still having funds available yearly should your financial goals change. And lower minimum balances allow more members to take advantage of this strategy.

What is a Share Certificate?

Share Certificate Accounts, commonly called Certificates of Deposit (CD), are an excellent tool to boost your savings. 

• The money you put in your Share Certificate is "locked" in for the designated term you choose.

• In exchange, you earn much higher yields than other savings options.

• Share Certificates force you to save by limiting access to your funds - helping your savings grow even faster!

Who Should Invest with Certificates?

Everyone! Certificates allow you to earn greater returns on your money without any market risk. Plus, the earnings are guaranteed!^{^} 

Here are a few ideal scenarios where Certificates shine:

• Nearing Retirement: Share Certificates are a more conservative investment option that carry no market risk (e.g., stocks and bonds).

• Diversifying Your Portfolio: A well-diversified investment portfolio is a winning strategy for any investor.

• First-Time Investors: Before jumping into risk-based investments, learn to not touch your money and let it compound with a Cerfiticate.

• Achieving Goals: Each certificate has a "term" or investment period. You can time your Certificates to coincide with future goals (e.g., new car down payment). 

*Annual Percentage Yield (APY) is accurate as of Effective Date. APY, terms, and conditions are subject to change without notice. Fees could reduce earnings on accounts. For current rates and terms for specific accounts, contact us. Dividends are paid from current income and available earnings. Dividends are compounded monthly. The monthly dividend period begins on the first calendar day of the month and ends on the last calendar day of the month. The minimum balance column indicates the minimum balance required to earn stated APY. Accounts are insured up to $250,000 by the National Credit Union Administration.

^Your savings are federally insured by the National Credit Union Administration (NCUA), a U.S. government agency, to at least $250,000 and backed by the full faith and credit of the United States government.