Certificates
Does low risk and higher dividend rates appeal to you? Then a Certificate from NCP may be what you are looking for. NCP offers Certificates at competitive rates that are typically higher than most financial institutions.Certificates are a special type of account that typically offers a higher rate of interest than a regular share account. By "locking" your funds in for specified period of time, you are rewarded with a higher dividend rate than a regular share savings account.
How a Certificate works
When you purchase a Certificate, you invest a fixed sum of money for a fixed period of time. In exchange for your deposit, NCP will credit interest in the form of dividends to your Certificate account at regular intervals. When you cash in or redeem your Certificate, your original investment, plus the interest accrued, gets paid back to you. (If you redeem your Certificate before it matures, you may have to pay an "early withdrawal" penalty or forfeit a portion of the interest you earned).As a feature to members, NCP offers Certificates in 6, 12, 24, 36, and 60 month terms. A minimum balance of $1000.00 is required to open and earn dividends on the account. You can check current rates online, in any branch, or by calling (757) 523-5300.
