Most people know that storing up money in their mattress, or in a suitcase buried in the back yard, is not a good idea. But with all the different savings institutions out there, the choices can end up being overwhelming. The final decision ultimately boils down to credit unions vs banks. Credit Unions vs. Banks - Which is Best for You? | One Smart Dollar
ANAHEIM HILLS, Calif.–Credit Union of Southern California (CU SoCal) has introduced a 7% APY share certificate with a seven-month term. “Designed to help members grow their savings, this high-yield certificate offers a strong return on a manageable deposit—capped at $7,000,” the credit union said. “Available from April 3 through May 31, it’s an ideal option for those looking to make the most of their money, even with a smaller investment.” There is a $1,000 minimum opening deposit, a limit of one per member, and new money is required. ‘Excellent Opportunity’ “We designed this certificate to help more members benefit from a great rate without the need to lock up a large sum of money,” COO Suzie Kisslan said in a statement.. “This is an excellent opportunity for savers to make their money work harder in a short period of time.” The $2.89-billion CU SoCal has approximately 155,000 members.
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