Freedom Certificate: Your Frequently Asked Questions Answered
We're thrilled with the buzz surrounding our new Freedom Certificate, and we've noticed some recurring questions popping up. Here's a quick FAQ to help you get to know this game-changing product even better:
Q1: What exactly is the Freedom Certificate?
A: The Freedom Certificate is our latest offering, designed to give you the benefits of a traditional certificate (like great interest rates) without the typical early withdrawal penalties. Essentially, it's about providing you with more flexibility in how you manage your savings.
Q2: Why should I choose the Freedom Certificate over a traditional certificate?
A: If you value flexibility and want the option to access your funds without penalties if life throws you a curveball, then the Freedom Certificate is for you. It combines the earning potential of a certificate with the accessibility of a more liquid account.
Q3: Are there any restrictions on when I can withdraw from the Freedom Certificate?
A: You can withdraw the total balance and interest earned, without penalty, beginning 7 days after the funds have been received for your certificate. No withdrawals are permitted during the first 6 days following the receipt of funds. While we always encourage long-term saving, we understand that unexpected expenses arise. The Freedom Certificate allows you to make withdrawals without the fear of penalties, making it easier for you to adapt to whatever life brings.
Q4: Is there a minimum deposit requirement?
A: Yes, just like our other certificate products, there's a minimum deposit requirement to open a Freedom Certificate. The minimum balance for a Freedom Certificate is $1,000.
Q5: How does Las Colinas FCU's Freedom Certificate compare to what the big banks offer?
A: Most big banks offer traditional certificates with early withdrawal penalties. Our Freedom Certificate stands out as a more flexible, member-centric option. At Las Colinas FCU, our aim is to be a Force for Good, always prioritizing your needs and financial freedom over rigid banking norms.
Q6: Will the interest rate on the Freedom Certificate change?
A: Like all our certificates, the Freedom Certificate comes with a fixed interest rate that's locked in when you open it. You can rest easy knowing your rate won't drop during your term.
Q7: Can I add more funds to my Freedom Certificate after the initial deposit?
A: As of now, the Freedom Certificate functions like other certificates – you lock in an amount when you open it. If you wish to add more funds later, consider opening another Freedom Certificate or exploring our other savings products.
Q8: How can I open a Freedom Certificate?
A: Simply visit any Las Colinas FCU branch, call us at (214) 273-5094, or log into your online banking portal. Our friendly team is always here to help guide you through the process.
We hope this clears up any questions you might have about the Freedom Certificate! If you have more or need further details, don't hesitate to reach out. At Las Colinas FCU, we're always here to help you make informed decisions for your financial future. Cheers to freedom and flexibility!