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Rates and Announcements
CERTIFICATE OF DEPOSIT POLICY
The Board of Directors sets these rates.
Toledo Metro Federal Credit Union offers Certificate of Deposits to all members.
Maturity of 3, 6, 12, 18, 24, 30, 36, 48, and 60, months are available.
Minimum deposit for all certificates except 48 month is $500.00.
Minimum deposit for 48 month certificate is $250.00.
Dividends are paid monthly for 3 and 6 month certificates.
Dividends for 12, 18, 24, 30, 36, 48, and 60 month are paid quarterly.
A regular certificate may be held as collateral on a loan. Secured loans may not exceed the term of the certificate.
There is a 90 day dividend penalty for early withdrawals (except when extending the certificate for a longer term).
The President and CEO, Vice President of Member Services and the Manager of Accounting are given authority by the Board of Directors to change or match Certificate of Deposit rates not to exceed 1.5% above the current rates as published by the credit union. Any exception to the said policy must be approved by at least three members of Board of Directors at the time of the requested exception.
Minimum deposit for an IRA for 12, 18, 24, 30, 36, and 36 month is $500.00.
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