Inflate My Rate CD at Neighborhood Credit Union
Published February 16, 2021
Neighborhood Credit Union is announcing a brand-new product: a 25-month term certificate of deposit at 3.75 APY* called Inflate Your Rate. What makes this new service stand out is that it’s what is known as a bump-rate CD.
What is a Bump Rate CD?
A bump-up CD, also known as a certificate of deposit account, is a type of CD that gives members the option to “bump up” or increase the annual percentage yield during the CD's maturity term. Members can request a rate match on Inflate My Rate CD one time before it matures to take advantage of rising interest rates.
For the Inflate My Rate 25-Month Term CD, members have the option to “bump up” their rate if our 18-month term CD rate increases during the member's 25-month term. All the member needs to do is reach out to Neighborhood Credit Union, and we will bump their rate to the current 18-month term APY.
How often can I request a rate match?
Members can “bump up” their rate on new or existing funds only once during its 25-month term. The good news is that members can have more than one Inflate My Rate CD. The Inflate My Rate CD cannot be combined with any other rate offers.
What happens after my CD has matured?
What happens after my CD has matured?
Once the Inflate My Rate CD’s 25-month term is up, it will automatically renew as an 18-month term Standard CD. Once the term renews to the 18-month term, it is no longer eligible for a bump.
Other CD’s at Neighborhood Credit Union
- Online Savings – 3.95 APY**.An exclusive rate only available online with additional deposits allowed.
- Standard Certificate – Earn up to 3.25APY**. Minimum Opening Deposit: $2,500. Additional deposits not allowed.
- IRA & Roth IRA - Earn up to 3.25APY**. Minimum Opening Deposit: $2,500. Additional deposits allowed with $25 minimum; yearly IRS contributions limits.
- FlexPlus – 4.00APY**. A short-term length option with a low opening deposit and additional deposits allowed.
Inflate My Rate CD: APY = Annual Percentage Yield. Must be 18 years of age or older to open Certificate of Deposit. Rates subject to change. Interest is compounded daily. $2,500 minimum deposit to open. Only one rate increase allowed during 25 month term. Rate increase is not automatic and is dependent on member request by secure communication or verifiable documents. Rate increase will have an effective date that begins on date of confirmed request and will be in effect from that date till term end. Rate increased interest rate is dependent on Neighborhood CU's 18 month CD. If our 18 month CD rate increases during your Inflate My Rate CD's 25 month term, request a rate increase and we'll increase your Inflate My Rate CD's interest rate to match the 18 month CD rate. The new rate is locked in until end of the term. At the end of the 25 month term, Inflate My Rate CD converts and renews as a standard Neighborhood CU 18 month CD. Cannot be combined with any other rate offers or rate increase promotions. Not offered on trusts, business accounts or Individual Retirement Accounts (IRAs). An interest penalty is required for early withdrawal. Fees may reduce earnings. Federally insured by NCUA.
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**APY = Annual Percentage Yield are effective December 24, 2024. and are subject to change without notice. CD interest is compounded daily. An interest penalty is required for early withdrawal. Please see the CD Truth-in-Savings Disclosures(Opens in a new Window) for additional information.
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Who We Are
As an active part of the community for 93 years, Neighborhood Credit Union is a not-for-profit financial organization serving the state of Texas with branch locations in Collin, Dallas, Denton, Ellis, and Tarrant counties. With assets topping $1 billion, Neighborhood Credit Union has a continuously growing membership of over 60,000. For more information, call (214) 748-9393 or visit our homepage.