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Certificates

Watch Your Savings Grow

With a Certificate with Launch, you can sit back and watch your savings grow. Unlike the stock market, Certificates allow you to grow your money with a locked-in rate of return and maximum security. We offer a variety of terms and great fixed rates so saving is simple and secure. It’s all the reward, minus the risk*. 

  • Terms starting at 3 months
  • Minimum balance starting at $1,000
  • The dividend rate and annual percentage yield (APY) are fixed and in effect for the term of the certificate
  • Dividends will be compounded monthly and credited on the last day of the month
View All Certificate Rates
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How to open your Certificate:

  1. Apply online 
    • Login to digital banking
    • Select “Accounts”
    • Click “Quick Apply”
    • Click “Apply Now” beside “Share Certificates”- minimum requirement is $1,000.00 
    • Select the funding account and the funding amount
    • Important account information can be viewed by selecting the hyperlinks. After reviewing the information, check the checkbox to agree to the terms and conditions.
  2. Visit any branch location
  3. Book an appointment
  4. Call 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard)

With a Certificate from Launch, you can sit back, relax, and watch your savings grow knowing your funds are federally insured by the NCUA.

View All Certificate Rates How To Make a Transfer

FAQs

Get answers to the most frequently asked questions about Certificates.

1. How can I open a Launch CU Certificate?

To open your Launch CU Certificate account:

2. Are Launch deposit accounts NCUA insured?

Yes. Launch is a member of the NCUA, so your deposit accounts with us are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency. If you want to learn more about NCUA insurance limits, click here.

3. What is APY? How does it relate to APR?

APY, or Annual Percentage Yield, tells you the return you will receive on a deposit over a one-year period based on the dividend rate and dividend compounding frequency. Annual Percentage Rate (APR) tells you the effective rate you will pay a lender on a loan over a one-year period.

4. How do Certificates work?

A certificate is a form of savings account. A certificate has a maturity date, or a specified date of withdrawal. It also has a fixed dividend rate for the term of the deposit. Unless it’s a Bump Certificate which has a variable rate.

Certificates are insured by National Credit Union Administration (NCUA).

At the time you open a Certificate, you select the term, or length of time you commit to keeping your money in the account without withdrawing any funds from it. Terms vary from one financial institution to another, but typically, the longer the Certificate term, the higher the dividend rate and annual percentage yield (APY).

5. Are Certificates a good investment?

The answer depends on your personal investment goals, but in general, Certificates are a low-risk way to earn a fixed rate of dividends. Unless it’s a Bump Certificate which has a variable rate.

Certificate accounts typically earn better dividends than savings accounts, especially when you choose Certificates with the longest terms, such as 60 months. If you have funds that you will not need to access during the term length, Certificates can offer excellent rates of return on your initial investment.

6. Can you lose money on Certificates?

From the time you open and fund your Launch CU Certificate, your initial investment will be protected for the full-term length, and it will also be insured by the National Credit Union Administration (NCUA). There may be penalties for withdrawing funds prior to the Certificates maturity date, which may result in you foregoing earning some dividends, but you cannot lose your principal investment amount.

7. What happens when a Certificate matures?

Upon a Certificates maturity date—the date on which you can take your funds out of a Certificate without incurring any early withdrawal penalties—you will have a few choices:

  • You can allow the Certificate to roll over or renew. Your money will go back into another Certificate at the same term length you chose when you first opened it.
  • You can choose to put your money into a Certificate with a different term length, which will also have a different annual percentage yield (APY).
  • You can move your money into another account, such as your Launch CU Money Market Savings Account or Checking Account.

Whatever you choose to do with the funds in a matured Certificate, be sure to check the most recent dividend rates on the various types of accounts available. Please feel free to visit your nearest Launch CU branch location or call us at 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard) for the most up to date information.

8. Which is better: Certificates or Money Market accounts?

Money market accounts and Certificates are both popular investment strategies, and many investors choose to have both types of accounts since each has its advantages. They also have their differences in yields, terms, restrictions and more. When choosing which type of investment is right for you, here are a few things to consider:

  • Certificate dividend rates are typically higher than money market account dividend rates.
  • A money market account is more liquid, meaning you can withdraw funds from it without penalties. Certificates, on the other hand, usually include some type of penalty for withdrawing funds prior to the Certificate's maturity date.
  • Depending upon your unique situation, you may want to keep funds you need easier access to in a money market account and use a Certificate to earn dividend on funds that you plan to leave untouched for a long period of time.

To find out more about a strategy that's right for you, visit your nearest Launch CU branch location or call us at 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard).

9. How do I make deposits into my bank account?

You can deposit money to your High Yield Savings or Money Market Account in several ways:

  • Transfer from a Launch CU account.
  • Electronic transfer (ACH) from a non-Launch CU account that you’ve linked to your account.
  • Mobile check deposit via the Launch CU mobile app.

NOTE: The amount of a mobile check that you can deposit is currently limited to $5,000 per day, $5,000 per week, and $10,000 per month.

  • Direct deposit from a third party.
  • Wire transfer to your Launch CU account (must be initiated by the sending financial institution).
    • Personal or cashier’s check. Fill out a deposit slip and mail the check and deposit slip to:

    Launch Credit Union
    300 S. Plumosa St

    Merritt Island, FL 32952

     

    If you don’t have a deposit slip, note your Account Type and Number in the Memo section of the check. Endorse the back of the check with “For Deposit Only at Lunch CU” (and insert your account number for the X’s).

10. How long does it take for funds to become available in my account after I transfer them?

External Transfer Service – Within Digital Banking you may enroll to transfer funds between your Launch CU savings & checking accounts and your non-Launch CU accounts. You must be an owner of the Launch CU account and the non-Launch CU account. To verify you are an owner of this external account, micro-deposit verification will be required.

If your transfer request is submitted prior to the 3:00 p.m. cut-off time, funds will be debited to your Launch account the day after you submit the request or credited to your Launch account within 3 business days after you submit the request.

11. How do I initiate a wire transfer?

Launch can provide you with incoming wire instructions if you choose to send funds from your existing financial institution by wire transfer. Check with that institution for their specific requirements. Please see the Schedule of Fees and Charges for fees associated with a wire transfer.

12. How long does a wire transfer take to post?

The answer varies based on whether you are transferring money out of or into your account.

Outgoing: Funds are deducted immediately your account and will post at your receiving institution based on their policy.

Incoming: Funds are available on the business day we receive them (if received before 4:30 p.m. ET). Wires received after that time will be posted on the following business day.

13. Are there any fees for wire transfers?

Please see the Schedule of Fees and Charges for fees associated with a wire transfer.

Visit any branch location to open your account. For questions call 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard).
*

The dividend rate and annual percentage yield (APY) are fixed an in effect for the term of the certificate. The APY is based on the assumption that the dividend will remain in the certificate until maturity. Dividends will be compounded monthly and credited on the last day of the month. Rates are in effect as of 01/02/2024 and subject to change. Penalties may be imposed for early withdrawal

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