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
rates tab, 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penalty is 31 days interest on the amount withdrawn.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interest on the amount withdrawn.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 $4,000 on the
Traditional and Roth IRA's. The Coverdell Education Savings Account
has a contribution limit of $2,000.
8. Can't I contribute $5000?
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.
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