Business Deposit Rates
|$10,000.00 - $24,999.99||.10%||.10%|
|$25,000.00 - $99,999.99 (br)(Variable based on 1-Month Treasury Bill - 1.25% (margin))||1.16%||1.16%|
|$100,000.00 - $499,999.99 (br)(Variable based on 1-Month Treasury Bill - 1.00% (margin))||1.41%||1.41%|
|$500,000.00+ (br)(Variable based on 1-Month Treasury Bill - .50% (margin))||1.91%||1.92%|
|4 - Month Share Certificate||$500||2.52%||2.55%|
|19 - Month Share Certificate||$500||3.15%||3.20%|
|2 - Year Jumbo Share Certificate||$100,000||2.96%||3.00%|
|1 - Year Certificate||$500||2.13%||2.15%|
|1 - Year Jumbo Certificate||$100,000||2.86%||2.90%|
|2 - Year Certificate||$500||2.62%||2.65%|
|3 - Year Certificate||$500||2.72%||2.75%|
|5 - Year Certificate||$500||3.20%||3.25%|
APY = Annual Percentage Yield.
*There is no minimum deposit requirement for this account; however, any dividends earned are based on balance. The tiers are as follows: Tier 1 daily balance $10,000 to $24,999.99; Tier 2 daily balance $25,000 or more. If your account falls below $10,000 any day of the month, no dividends are accrued on that day of the month and you will incur a $20 monthly maintenance fee for that month. We use the daily balance method to calculate the dividend on your account. Dividends begin to accrue no later than the business day we receive the deposit to your account. Funding must be received within 30 days of account opening.
**It takes $25,000 to open this account. If the account falls below $25,000 any day of the month, there will be no dividends paid on that day of the month. The minimum balance in the account is $25,000; you must maintain the corresponding minimum daily balance to obtain the disclosed annual percentage yield. Rates earned are based on balance. The tiers are as follows: Tier 1 daily balance of $25,000 to $99,999.99 (1-Month Treasury Bill – 1.25%); Tier 2 daily balance $100,000 to $499,999.99 (1-Month Treasury Bill – 1.00%); Tier 3 daily balance $500,000 or more (1-Month Treasury Bill – .50%). All tiers are subject to variable rate pricing and will adjust weekly. We will update this rate weekly on Tuesday to reflect the previous Friday’s 1-Month Treasury Bill rate. If Tuesday is an observed holiday, it will be updated the next available business day. The 1- Month Treasury bill rate can be found from the U.S. Department of Treasury site under the “Daily Treasury Yield Curve Rate” drop down option.We use the daily balance method to calculate the dividend on your account. Dividends begin to accrue no later than the business day we receive the deposit to your account. APY will vary due to activity and balance. Rate may change after the account is open. Fees may reduce earnings.
***Fees may reduce earnings. Substantial penalties for early withdrawal on all certificates. Refer to the Business Account Disclosure for account information.
****Fees may reduce earnings. Substantial penalties for early withdrawal on all certificates. Bump Certificates are new products and offer does not apply to existing certificates. This offer and details, including the stated APY, are accurate as of July 10, 2018, are available for a limited time and are subject to change at any time. Certificates will be opened and interest will accrue as of the date funding is received; funding must be received within 10 days of opening the account. Fees may reduce earnings; subject to early withdrawal penalties. Bump Certificates: Terms include 3- and 5-Year Bump Certificates. During the term of this certificate, the certificate owner has the option to initiate a rate adjustment one time per year during the term of their certificate to the prevailing GECU rate on that product. The certificate owner must provide a written or verbal request. One rate adjustment per year is reflective of an anniversary year, based on the certificate open date. This offer is applicable to new money or funds from maturing certificates at GECU. New money is defined as proceeds not previously on deposit with GECU. To change an existing termed certificate outside of its 7-day grace period, you will be assessed a penalty fee and must add a new money equivalent to the current balance of the certificate(s) the day the penalty is assessed if under $10,000; for balances of $10,000 or more, you must add a minimum deposit of at least $10,000 in new money. If electing to use non-maturing deposits currently with GECU, when transferring balances under $10,000, you must match (or exceed) the amount transferred from your GECU account with a new money; if transferring balances of $10,000 or more, you must add a minimum deposit of at least $10,000 in a new money.
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