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SimpliCD (pronounced "simplicity") is a certificate of deposit (CD) program, managed by Primary Financial Company, LLC, a Credit Union Service Organization (CUSO) owned by members of the Corporate Credit Union Network including Corporate Central Credit Union. SimpliCD enables members to easily invest substantial funds in federally insured CDs. This turnkey program combines the security of CD investing with the advantages of competitive rates and consolidating reporting.
How does it Work?
Placements
Each day, SimpliCD searches its nationwide network of issuers for the best rates on federally insured jumbo CDs. Rates are available for CDs in terms ranging from one-month to five-years, and in amounts ranging from $99,000 to $20 million. Placements are made by purchasing multiple CDs in $99,000 or $100,000 increments at separately insured issuers. A detailed tracking system ensures that no more than $100,000 of your principal is placed in any single financial institution within the SimpliCD program. SimpliCD purchases the CDs in a custodial capacity on your behalf, passing all federal insurance benefits through to you so that you remain the legal owner of the CDs.
Settlement
SimpliCD tracks, monitors, and collects all of your earnings. You receive a single consolidated monthly interest payment for all of your SimpliCD investments.
Reporting
Finally, in addition to your daily transaction statements, SimpliCD provides you with one monthly statement that details your entire SimpliCD portfolio.
SimpliCD is a convenient way to invest in federally insured jumbo CDs with minimal effort. Eliminate the hassle and time involved in investigating potential issuers and purchasing the CDs yourself. When you start investing through SimpliCD, your life gets a little less complicated.
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No more phone calls to multiple issuers to find competitive rates
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No more multiple wire transfers to invest in multiple CDs
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Flexible terms and amounts that fit into your investment strategy
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Free third-party performance reviews on SimpliCD issuers that help you make more informed investment decisions
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Single transaction settlement with no transaction fees
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Consolidated monthly reports for easier accounting and auditing
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The security of investing with federally insured institutions
For more information regarding SimpliCD, please contact the Investment Department. |