- Home
- |
- Locations
- |
- Contact Us
- |
- Secure Chat
- |
- Forms
- |
- Rates
- 434-964-2001
Routing & Transit Number: 251480181
Routing & Transit Number: 251480181
.jpg)
Earning great rates is easy with our Max Up Promotional Certificates.
Increase your rate by adding new money to your opening deposit.
Let’s say for example you have at least $500 on deposit at UVA Community Credit Union to invest into a Certificate. With this offer, you can choose a 7- or 18-month Certificate, or both, depending how long you would like to lock up your funds. You will earn a great base rate of 5.00% APY1 on these funds.
However, you have the opportunity to Max Up your rate and earn even more by adding new money from another financial institution (see table for higher rate deposit thresholds). Let’s say you decide to transfer $25,000 from another bank to the Credit Union and combine this with $10,000 from your Credit Union Share Savings account, to invest in a 7-month Max Up Certificate. By adding in these new funds, you now earn a higher rate of 5.20% APY1 on your entire opening balance ($25,000 + $10,000 = $35,000) for 7-months.
But that’s not all! The Max Up Certificate gives you the one-time option to add even more new money later into the Certificate. You can add up to your original opening deposit amount, when funds are available, and earn your same great initial rate for the remainder of your Certificate term. (Keep in mind, the promotion does cap out this option at an additional $250,000.)
Let’s say in this scenario, you have three months remaining in your original 7-month Certificate term. You can add up to $35,000 in new money and earn the same initial 5.20% APY1 for the remaining three months left in your term on your entire new balance. Now that’s earning to the MAX!
Note: All Certificates with an opening deposit of $500 to $24,999 will earn the base rate of 5.00% APY1 however are eligible for the later new money add on option. For non-members at the time of Certificate opening, your initial Certificate deposit is considered new money. Your initial opening rate will be based on the deposit tiers noted in the above table.
A certificate can get you closer to financial success:
See our Frequently Ask Questions below or contact us for additional inquiries. Or open your Certificate today!
It's easy! Open a Certificate in any of our branches or online (maximum online Certificate up to $50,000).
Already a member? Open a Certificate today!
For Certificate amounts over $50,000 and/or if you are a Business members, you must open your Certificate in one of our branches.
NOT a member yet? You can open a Certificate and join our Credit Union at the same time!
For Certificate amounts over $50,000 and/or if you are a Business members, you must open your Certificate in one of our branches.
The promotional terms are 7- and 18-months. This offer is not valid on IRA, SEP, or Education Savings Certificates.
Personal and Business members in good standing are eligible to participate in this promotion. New members may also participate in this promotion. It’s important to note, this is a limited time offer and subject to change or end at any time.
As you have no funds held with the Credit Union, all funds at Certificate account opening will be considered “new money.” Your initial opening rate is based on your opening balance. However to be eligible for this offer, you must first join and become a member of our Credit Union.
Personal members can conveniently join and open a Certificate at the same time online or in any of our branches. However, Certificates opened online are capped at $50,000.
Qualifying Certificate opening deposits over $50,000 and/or Business members must join and open Certificates at any of our branches. The base rate for the 7- and 18-month Certificates is 5.00% APY. You can increase your rate with a higher opening balance meeting the following thresholds:
Example: You wish to open a $30,000 18-month certificate with funds you currently have at another bank. When you join and bring this $30,000 to the Credit Union, your rate would be 5.20% APY on your entire balance. This also qualifies you to make a one-time add on of “new money” up to $30,000 during the initial term of your promotional Certificate (see question 6).
Pro Tip: The larger you make the initial opening deposit, the more you can add later (in “new money”) and earn the same great rate for the rest of the term on your new total deposit.
The base rate for the 7- and 18-month Certificates is 5.00%APY. You can increase your initial rate when you add on “new money” to your Certificate when it is opened by meeting these thresholds:
Example: You wish to open an 18-month certificate with $25,000 of funds already on deposit at UVA Community Credit Union, and you bring $30,000 in “new money” to the Credit Union for a total of $55,000. Your rate would be 5.20% APY on your entire balance. This also qualifies you to make a one-time add on of “new money” up to $55,000 during the initial term of your promotional Certificate (see question 6).
Pro Tip: The larger you make your initial opening deposit, the more you can add later (in “new money”) and earn the same great rate for the rest of the initial term on your new total deposit.
“New money” is defined as funds not on deposit at the Credit Union as of the date of Certificate account opening.
During the initial term of the 7- and 18-month Promotional Certificate, you have a one-time option to add funds. All add-on funds must be “new money” to the Credit Union. Total “new money” added under this election may not exceed the initial certificate deposit, up to $250,000, and combined aggregate of your promotional 7-month and 18-month Certificates may not exceed $750,000.
Example 1 (not impacted by aggregate cap): You wish to add “new money” six months into your 18-month Promotional Certificate term. Your initial deposit was $30,000. You are eligible to add up to another $30,000 in “new money” and earn the same great initial rate on these new funds plus your original deposit for the remaining 12 months.
Example 2 (impacted by aggregate cap): If you opened a 7-month Promotional Certificate with $250,000 and an 18-month Promotional Certificate also with $250,000, the aggregate cap of $750,000 would come into play. You would only be eligible to add on a total of $250,000 between the two Promotional Certificates.
The original Certificate rate will not change. The “new money” will earn the same interest rate as the existing Certificate funds.
No, if the add-on option is not exercised prior to the initial maturity date of the Certificate, the option expires.
You can make a deposit or transfer in person, through secure messaging (in online banking), by phone, or by mail.
A 7-month Certificate will rollover to a 6-month standard term at prevailing rates. The one-time add on election will discontinue at the end of the 7-months.
An 18-month Certificate will roll over to an 18-month standard term at prevailing rates. The one-time add on election will discontinue at the end of the 18-months.
Business members must visit a branch to open a Certificate.
Yes, there will be a 90 day dividend loss for a 7-month Certificate and 180 day dividend loss for an 18-month Certificate.
There is no specific end date at this time. Offer is subject to change at any time without notice. Don’t miss out on this opportunity - take action quickly!
Certificates provide a guaranteed return as long as you keep your funds in the account until maturity. UVA Community Credit Union Certificates are backed by the National Credit Union Administration (NCUA) and are guaranteed by the federal government. Learn more about your coverage.
1APY=Annual Percentage Yield. Current dividend rate effective 9/18/2023 is 4.89% for a 7-month or 18-month certificate term. For an even higher initial APY at account opening, just fund with additional new money to UVA Community Credit Union (UVACCU). New money is defined as funds not on deposit at UVACCU as of the date of certificate account opening. Opportunity to earn higher APY with new money is outlined in the table above. Aggregate total of 7-month and 18-month promotional certificates initial opening deposits may not exceed $500,000 per member. At maturity, the 7-month certificate will rollover into a 6-month standard term and the 18-month certificate will rollover into a 18-month standard term at the prevailing dividend rate, unless otherwise instructed. Early withdrawal penalties apply. Certificate must have a $500 minimum opening balance to earn base rate. This offer is not valid on IRA, SEP, or Education Savings Certificates. UVACCU reserves the right to end or modify this offer at any time without notice. For current dividend rates call 888-887-9136. Membership eligibility is required.
2Certificate holder also may elect to add new money one-time during the term of the certificate. New money added under this election will earn the same initial dividend rate at certificate opening. Total new money added under this election may not exceed the initial certificate deposit, up to $250,000, and combined aggregate in 7-month and 18-month certificates may not exceed $750,000. Insured by NCUA.
.JPG)