A Market Index Certificate is an insured timed deposit that earns dividends based on the increase in the Standard & Poor's 500 Stock Price Index. You share in the rewards of the stock market without risking your initial deposit - which is returned to you regardless of how the S&P index fared.
- 2 or 4 year terms
- Minimum deposit: $500
- Available as a share savings or IRA certificate
- Initial deposit is insured & guaranteed at end of certificate term
- Certificate has the potential to earn a much greater return on your investment than a fixed-rate share certificate. However, if the S&P 500 is lower on your maturity date than your purchase date, you will earn no dividends.
- Certificate balances count towards your Member Merits level.
- Early withdrawal is not permitted.