1. What are the rates?
Our share certificate rates are set each Tuesday. You can obtain these rates through Webb-It 24® by clicking on the "Join" tab and choosing "Investments" or by calling the Investment Department at (863) 683-6404 in the Lakeland area or (800) 226-6673 toll free.
2. What is the minimum to open a Share Certificate?
The six-month certificate requires a $500 minimum balance to open. The one-year through five-year certificates require a $1,000 minimum to open. We also offer Jumbo Certificates with a minimum balance of $100,000.
3. What is my penalty if I close the certificate before maturity?
If your certificate is one-year or less, the penalty is 31 days interest on the amount withdrawn. If your certificate is longer than one-year, the penalty will be 90 days interest on the amount withdrawn.
4. How do I buy a Share Certificate?
It's easy! If the funds are in your credit union account simply contact one of our Investment Counselors in the Lakeland Office. They will open the certificate and send your receipt and certificate to you by mail. When opening a certificate by mail just send a check or money order along with a note indicating what term certificate you would like to open. Your new certificate will be returned to you by mail.
5. Do you offer IRA's?
Yes, we offer the Traditional IRA, Roth IRA, and the Coverdell Education Savings Account. (Formerly Education IRA)
6. How do I make contributions to my IRA?
You can make contributions through payroll deduction, in person, by mail or by telephone request.
7. How much can I contribute to the IRA?
You may contribute up to $5,500 on the Traditional and Roth IRA's. The Coverdell Education Savings Account has a contribution limit of $2,000.
8. Can't I contribute $6500?
Yes, if you are age 50 or older, IRS is allowing "catch-up" contributions of an additional $1000 on Traditional & Roth IRA's.
9. I'm getting ready to retire can you help me?
Yes, we can arrange a "direct rollover" of your ESOT plan, 401-K, or any IRS qualified retirement plan, contact our Investment Department for assistance.
10. Can I get a monthly check from my retirement money?
Yes, we will set up a monthly distribution by check or by transferring the requested amount to your credit union savings or checking account.
11. Is there a fee to open or manage my IRA?
No, there is no fee for this service at PEFCU. You are in control of your money.
12. Do you offer any share certificates’ for kids and youth?
Yes, we have the Youth Share Certificate. This is available though the Hugh Manatee or Boom savings account. For a low $100 minimum deposit you’ll receive a great dividend rate! The term of the Youth Share Certificate is 12 months and available to members under 18 years of age. Contact our Investment Department for more information and assistance in getting yours today.