Rate Bump Certificate

Family strengthening their financial foundation with KEMBA's savings rates calculator.

Options! Take advantage of flexibility with a one-time Certificate rate bump.

The power is yours! If you’re unsure about locking in a rate for the entire term of a Certificate, this flexible option is for you! When you take advantage of a one-time rate bump, you can earn even more on your money and it’s totally up to you when you want to exercise this option!
  • Enjoy the same guaranteed return, with more flexibility
  • Only applicable on 24-month term Rate Bump traditional and IRA Certificates
  • Minimum balance requirement of only $500
  • One bump can be exercised during the Certificate’s lifetime with no fees
  • Once bumped, the rate will remain in effect until maturity

Common Questions

This 24-month Certificate gives you the opportunity to increase your rate (APY) at one point in its lifetime. You cannot add funds to your Certificate.
It enables you to rely a guaranteed return like the traditional Certificate, regardless if rates go up or down. If they go up, you can choose to exercise the one-time bump.
It’s easy! Call us at 614.235.2395, option 4, schedule an appointment, or visit your local branch.
There is no guarantee rates will increase.
We will not notify you when our rates change. It is your responsibility to monitor our rates and choose the timing for your rate increase.

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Call 800.282.6420, option 4.

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Visit a local branch today

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Speak with our experts

For full Membership Agreements and Disclosures, please click here.
Rate Information: The dividend rate and annual percentage yield (APY) on your term share account will be determined on the date that the account renews. You can contact the Credit Union on the maturity date listed above to find out this information. Please call 614.235.2395 or 800.282.6420 option 4. Compounding and Crediting Frequency: Unless otherwise paid, the dividend period is monthly, and dividends will be compounded daily and credited to your account monthly. If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements: The minimum balance required to open this account is $500.
Daily balance computation method: Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
Transaction limitations: After the account is opened, you may not make additional deposits to it. You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to the early withdrawal penalty.
Rate bump: subject to one rate bump in its 24-month lifetime per member request, additional funds may not be deposited. Member must make request for the rate bump during the term of their Certificate, rate bumps are not automatic. APY will change immediately upon request and revert back to the first day of the month its requested. After one-time rate bump, Certificate will remain at stated APY at the time of the request for the remainder of the term.

Time requirements: Your renewed account will mature on the date stated above as the New Maturity Date.
Early withdrawal penalty: We will impose a penalty if you withdraw any of the principal funds before the maturity date. The penalty imposed will equal 50% of the dividends accrued for the amount of principal withdrawn, or 7 days of dividends accrued for the amount of principal withdrawn, or $25.00, whichever is greater.
Withdrawal of dividends prior to maturity: The APY is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.
Automatically renewable account: This account will automatically renew at maturity for a term of 24 months. You may prevent renewal of the account if we receive written notice from you within the grace period mentioned below. We can prevent renewal if we mail notice to you at least 30 calendar days before the maturity date. If either you or we prevent renewal, your deposit will be placed in a dividend-bearing account. The dividend rate for the renewed account will be the same rate we offer on any new term share account that is opened on that day and has the same term, minimum balance, and other similar account features. You will have a grace period of 10 calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

Bylaw requirements - You must maintain a minimum balance of $5.00 (your membership share) in your Primary Savings account as a condition of admission to membership. Transaction limitations - The Credit Union reserves the right to require a member intending to make a withdrawal to give written notice of such intent not less than seven days before such withdrawal.
Nature of dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
National Credit Union Share Insurance Fund - Member accounts in this credit union are federally insured by the National Credit Union Administration

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