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The Premier Investment Suite is a self-directed, self-managed package of services that gives members the opportunity to allocate funds between settlement, investment, and loan accounts to maximize returns. Dividends and interest charges are calculated on an actual (365-day) basis for all services within the Premier Investment Suite and are posted or billed to the Premier Settlement Account. The Premier Investment Suite consists of the following services:
Premier Settlement Account
The Premier Settlement Account is the transactional account for all daily settlement activities of the Premier Investment Suite. Dividends are lower than other overnight investment alternatives with Corporate Central Credit Union. Funds can be transferred to alternative investment accounts until 3:00 pm CT each business day. Funds are moved by authorized personnel at the member credit union, or you can call a Member Relationship Representative (MRR) at Corporate Central Credit Union to request a transfer. Dividends on all investments and interest payments for all loans are settled in and from this account.
Premier Investment Account
The Premier Investment Account offers members higher earning potential for overnight funds with few restrictions. As an added benefit, the Premier Investment Account pays higher dividends on larger deposits giving members the capability to invest more and earn more. Funds must be transferred into this account by 3:00 pm CT to earn the dividend overnight.
Managed Loan
A Managed Loan is a self-advanced loan used to fund the Premier Settlement Account if drawn negative. The loan must be paid off manually by authorized personnel at the member credit union. Interest is due upon payment of the loan. The Managed Loan offers the lowest overnight loan rates offered by Corporate Central Credit Union.
Automatic Loan
When the Premier Settlement Account has gone negative and a Managed Loan was not advanced by the member credit union, an Automatic Loan will be utilized to cover the shortfall. The Automatic Loan must be paid off manually by the member credit union and interest is due upon payment of the loan. Overnight rates are higher for Automatic Loan advances.
The Premier Investment Suite allows members to manage the movement of money among settlement, investment, and loan accounts to maximize returns. Members have easy access to excellent overnight rates and the lowest overnight loan rates Corporate Central Credit Union has to offer. Detailed statements of settlement activity are available online and our Member Relationship Representatives can be reached during business hours if you have any questions.
For more information regarding the Premier Investment Suite, please contact the Investment Department. |