Home Credit union Great Lakes Credit Union Launches Jumbo and Super Jumbo Certificates, Offering Members Low-Risk Ways to Multiply Their Savings

Great Lakes Credit Union Launches Jumbo and Super Jumbo Certificates, Offering Members Low-Risk Ways to Multiply Their Savings

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Bannockburn, IL. (June 22, 2022) – Great Lakes Credit Union (GLCU) ​​is expanding its range of deposit offers with the introduction of two products that can help members grow their savings faster: Jumbo and Super Jumbo Certificates. Federally insured by the National Credit Union Administration (NCUA) up to $250,000, these certificates offer members a low-risk way to earn a higher return on their funds and predictably multiply their savings.

In today’s volatile rate environment, this steady growth is important to consumers of all financial backgrounds, and GLCU is addressing 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 reach their savings goals,” said Steven Bugg, President and Chief Executive Officer. from the management 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 duration 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 has matured, 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 member terms, 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 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 in the face of current climate change.

Learn more about terms, conditions and disclosures, and find out how GLCU can help you reach new levels of financial success with its Jumbo and Super Jumbo certificates here.

GLCU Jumbo and Super Jumbo Certificates

GLCU Jumbo Certificate: Benefits and Requirements:

• Earn up to 1.05% APY*

• Excellent customer service and 24/7 access with online and mobile banking

• No hidden fees

• Predictable growth

• Federally insured by NCUA up to $250,000 per member

• Flexible term options ranging from 12 months to 60 months

• Minimum balance required: $100,000

GLCU Super Jumbo Certificate: Benefits and Requirements

• Earn up to 1.20% APY*

• Excellent customer service and 24/7 access with online and mobile banking

• No hidden fees

• Predictable growth

• Federally insured by NCUA up to $250,000 per member

• Flexible term options ranging from 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 income on the above accounts. Penalties apply in the event of early withdrawal of share certificates.

About the Caisse populaire des Grands Lacs

Founded in 1938 and based in northern Illinois, GLCU is committed to empowering you financially. As a nonprofit financial cooperative with over $1 billion in assets, GLCU is proud to serve more than 80,000 members in Chicagoland and surrounding areas. Learn more about GLCU’s accounts, educational initiatives, and community development programs at glcu.org