After years of low rates for savings and investments due to governmental and market pressures, BCS Community Credit Union investment rates are rising.

Federally Insured CDs

Certificates of Deposit have seen the large increases recently, lead by the 5-year Jumbo CD with an Annual Percentage Yield of 2.04%.  See all rates by clicking here. Regular CDs require just a $500 minimum deposit, and Jumbo CDs require just $25,000. CDs are also available for IRA accounts. Rates have also increased for Money Market and regular savings accounts.

Gold Piggy Bank

CD Bump-up Option Now Available

To help protect members from missing out on rising rates, the credit union now offers a CD Bump-Up feature, which allows members to “bump-up” any new or existing 36- 48- or 60-month CD once during the current term of the CD to a higher rate. See bump-up details here.

To setup your new CD, or to exercise your bump-up option, log in to It’sMe247 Online Banking, call or visit the credit union, 303-425-6627.

Safe and Sound

With a BCS Community Credit Union Savings, Certificate of Deposit, Money Market or Individual Retirement Acoount, your savings is federally insured to at least $250,000 by the NCUA, a U.S. government agency.

NCUA Insurance Label
Truth in Savings Disclosure – Certificates

Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Truth-in-Savings Disclosure are share accounts.

  1. RATE INFORMATION — The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the dividend rate and annual percentage yield are fixed and will be in effect for the initial term of the account. For accounts subject to dividend compounding, the annual percentage yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
  2. DIVIDEND PERIOD — For each account, the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date.
  3. DIVIDEND COMPOUNDING AND CREDITING — The compounding and crediting frequency of dividends are stated in the Rate Schedule. For Certificate Account accounts, dividends must be Dividends are paid directly to the member or are paid to another credit union account. For Youth Certificate, Roth IRA Certificate, Coverdell ESA Certificate, Jumbo Certificate, Add On Certificate, and Step-Up Certificate accounts, dividends must be Dividends are paid directly to the member or paid to another credit union account.
  4. BALANCE INFORMATION — To open any account, you must deposit or already have on deposit the minimum required share(s) in a Primary Share Savings account. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For all accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
  5. ACCRUAL OF DIVIDENDS — For all accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.
  6. TRANSACTION LIMITATIONS — For all accounts, your ability to make deposits to your account and any limitations on such transactions are stated in the Rate Schedule. After your account is opened, you may make withdrawals of principal subject to the early withdrawal penalties stated below. Withdrawals of dividends are not subject to penalty.
  7. MATURITY — Your account will mature as stated on this Truth-in-Savings Disclosure or on your Account Receipt or Renewal Notice.
  8. EARLY WITHDRAWAL PENALTY — We may impose a penalty if you withdraw funds from your account before the maturity date.
  9. Amount of Penalty. For all Certificates and IRA Certificates, the amount of the early withdrawal penalty for your account is 180 days’ dividends.
  10. How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.
  11. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:

(i)            When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.

(ii)           Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after the establishment of the account; or where the account is a Keogh Plan (Keogh), provided that the depositor forfeits an amount at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59½ or becomes disabled.

  1. RENEWAL POLICY — The renewal policy for your accounts is stated in the Rate Schedule. For accounts that automatically renew for another term, you have a grace period of seven (7) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.
  2. NONTRANSFERABLE/NONNEGOTIABLE — Your account is nontransferable and nonnegotiable.
  3. MEMBERSHIP — As a condition of membership, you must purchase and maintain the minimum required share(s) of $25.00.
CERTIFICATE OF DEPOSIT BUMP-UP FEATURE

The interest rate and annual percentage yield (APY) for this account is based on the term and opening deposit amount.  See the Truth in Savings Disclosure. The current interest rate and APY for this product is available by calling 303-425-6627 or by visiting www.BCSCU.com.  The rate at opening will be paid until the certificate maturity date unless you invoke the Bump-Up option as explained below.  The certificate will mature in 36, 48 or 60 months, based on term chosen at opening. The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings and you may be charged an early withdrawal penalty.

Bump-Up Option: During the term of your Bump-Up Certificate, you are permitted to make a one- time request to adjust your interest rate at your discretion. Your request to adjust your interest rate is limited to the rate in effect for the same term certificate at the time of your request. You must make such a request by logging into It’sMe247 Online Banking, or in writing. When you elect to exercise the Bump-Up option, the new interest rate will be paid for the remaining term of your account. A one-time interest rate increase will not extend the original maturity date of your account. Interest rates are not tied to any index. They are established at the discretion of BCS Community Credit Union’s Board or Directors. BCS Community Credit Union has no way of predicting future rates.  Therefore, it is entirely at your discretion as to if and when you use this Bump-Up option.

For example, if the rate on your Bump-Up CD, at the time you opened the account is 1.75%, and the rate on that product rises to 2.00% at some point prior to maturity of the account, you may request the interest rate on your account be increased to the then current rate. If you choose to wait and the current rate for this product increases again during the term of your account to 2.25%, you may request the interest rate on your account be increased to the current rate at the time, based on the certificate term. You may only exercise this option once during the term of your account.  Rates quoted above are examples ONLY.  Call, visit www.BCSCU.com or stop in for current rates.

Minimum balance requirements

You must deposit a minimum of $500 to open this account. You must maintain a minimum balance of $500 in your account every day to obtain the annual percentage yield. If you open the account with a higher amount, you must maintain that balance throughout the term of the account.  Refer to the TIS disclosure.

Renewal policy

At maturity, the Bump-Up CD will automatically renew at the going rate for the original term, based on your term at opening. The Bump-Up option will then be available one time for the renewal period.

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