Because of the unsure nature of life, it’s never too cautious to have some money saved up. It’s something your parents have been warning you about since you got your first debit card. But now, it’s important to save and make a few investments. Of course, some investments are bad decisions. However, this credit union in Baton Rouge provides some of the safest investing choices!
At Essential Federal Credit Union, we support several choices of investments for our clients. Start safely saving your money today!
Certificate Of Deposit At Our Credit Union In Baton Rouge?
A CD, or Certificate of Deposit, is different from a savings account. In a savings account, you can take out and put money in at any time. However, with a CD, you put in a certain amount of money and leave it there to grow.
You have some choices for customization when you open one of our CD accounts. Specifically, you have the choice of a three-month to a five-year term, these being the average times in banking. We also offer our customers an automatic renewal at current rates, making things much easier for you. Currently, dividends are paid out either monthly or quarterly. To open a CD account with us, you need a minimum of $500 to begin. Put that money aside and begin saving!
Money Marketing Accounts At A Baton Rouge Credit Union
Money Marketing Accounts are one of the safest and easiest ways to invest when you have a lot to put in. When you open an account with us, you earn much more than an ordinary savings account. These earnings depend on the amount you put in.
Our particular Money Market Account has three different tiers of earning. With a minimum of $1,000, you too can begin saving. Currently, our tiers are:
- $1,000 – $9,999.99
- The first tier available for Money Market accounts. With this amount, your account will slowly gain money with the Annual Percentage Yield, or APY. For this tier, the APY is 0.4%.
- $10,000 – $24,999.99
- Second tier for this account. When your account has this amount of money, your APY jumps up to 0.6%.
- $25,000 +
- Our largest tier available. When you have $25,000 or more in your Money Market account, your APY extends to 0.85%.
No matter the type, savings accounts are a great way to save your money for a rainy day. Choosing Essential FCU provides a way to easily get ahold of your money while also investing it smartly since these accounts are insured. Call our credit union in Baton Rouge today to get started!
Save With A Credit Union In Baton Rouge
Banking investments are always best with someone you trust. So call Essential FCU today to invest in the best credit union in Baton Rouge. Our Baton Rouge branch is located on Siegen Lane, in the shopping complex next to Target. This particular branch is open from 8:00 a.m. to 6:30 p.m. on weekdays and from 9 a.m. to 2 p.m. on Saturdays. Please feel free to stop by any time and take advantage of our Money Market or CD accounts!