Ministry & Business Savings
Put your organization’s reserves and excess cash to work with a predictable return for a set amount of time.
Not every dollar your business or ministry holds needs to sit in a checking account. If you have funds you don’t expect to use right away, an AGCU business certificate of deposit can help those reserves earn a predictable return.
A ministry & business CD holds a set amount of money for a specific term while earning dividends at a fixed rate. It can be a useful option for businesses that want to earn more on funds they can comfortably set aside.
Lock in your rate for the certificate term so you know how your business funds will earn.
Earn dividends on cash your business has set aside for future needs instead of leaving all of it in a transactional account.
Choose from available certificate terms to match your business plans and cash-flow timeline.
Qualifying deposits are federally insured by the National Credit Union Administration (NCUA) up to applicable limits.
Dividends on AGCU certificates are paid monthly.
Your deposits help AGCU provide financial resources to businesses, churches, ministries and members.
The Basics
AGCU CDs have a minimum opening deposit of $1,000.
Select from available certificate terms based on when your organization may need the funds.
Your funds earn the disclosed rate during the certificate term.
When the term ends, review your options and decide what your organization needs next.
Plan Before You Deposit
A competitive rate is valuable, but access to cash matters too.
Before moving funds into a CD, consider upcoming payroll, taxes, vendor payments, planned purchases and an appropriate cash reserve for unexpected expenses.
A CD is best suited for funds your business can reasonably leave on deposit until maturity. An early withdrawal penalty may apply if principal is withdrawn before the certificate matures.
Choosing a Business Savings Account
Both can help your business earn dividends on money you’re not using for everyday operations. The biggest difference is how readily you need to access the funds.
Designed for funds your organization can leave on deposit for a specific term while earning a predictable return.
Think: longer-term reserves, future projects or funds with a known timeline.
Designed for organization savings that need greater accessibility while still earning dividends.
Think: operating reserves and savings you may need to access.
Business Savings Strategy
Your organization doesn’t necessarily have to choose between locking up all of its savings and keeping all of it immediately accessible.
A CD ladder divides funds among several certificates with different maturity dates. As each CD matures, your business can use the funds or reinvest them into another certificate.
At the End of Your Term
Your CD’s maturity date is the end of its agreed-upon term. At AGCU, certificates automatically renew unless you choose another option.
Good to Know
After your CD matures, you have a 10-calendar-day grace period to make changes or withdraw funds without an early withdrawal penalty.
Keep the funds in a certificate and continue earning dividends. Review current rates and available terms before maturity.
Move some or all of the funds into another AGCU business account if your cash-flow needs have changed.
Withdraw some or all of the funds during the grace period without an early withdrawal penalty.
If you take no action, your certificate will automatically renew according to the terms of your account. The rate at renewal may be different from the rate earned during the previous term.
Another Way Your CD Can Work for Your ORGANIZATION
Depending on your needs and eligibility, your organization may be able to use an AGCU CD as collateral for a share secured loan rather than withdrawing the certificate early.
Your CD stays on deposit and continues earning dividends while the loan is repaid.
Business Savings
Start with as little as $1,000 and choose from available AGCU certificate terms and rates.
Banking with a Purpose.
APY = Annual Percentage Yield. Minimum opening deposit and certificate terms may vary by product or promotion. An early withdrawal penalty may apply. Rates and terms are subject to change. Membership eligibility requirements apply. Federally insured by NCUA.
