Newsletter 2023 V3 Article - Why You Should Consider a Term Deposit
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Terms of all shapes and sizes
With minimum balances starting at just $500, you can begin earning a higher rate sooner. We have terms available ranging from 90 days up to five years for those who want to optimize dividends. With the vast variety of term lengths, you can choose what fits your lifestyle and goals.
Get even more out of your Term Deposit with Co-op Points
You can boost your rate when you use Co-op Points! You can earn an additional 0.25% on a Term Deposit when you redeem 2,500 Co-op Points.
Bump-up your rate in the future
Our 24 and 60 month Bump-Up Term Deposits offer confidence that your savings will be earning its maximum potential—even in a changing rate environment— with the flexibility to adjust your rate up (or “bump up”) one time during your term.^
Think you’re ready to open a Term Deposit account?
With so many great benefits, we make it easy to get the most from your savings. The best part? Once you open the Term Deposit account, the earning of interest is effortless!
With interest compounding monthly, a Term Deposit account with UMassFive can maximize your savings potential! At the end of your term, you’ll have the option to roll your earnings back into the certificate, or transfer to any other savings account. Need your money sooner than you thought? You can always break a Term Deposit, simply resulting in a loss of accumulated interest.
Visit our Term Deposit page to learn more and view our current rates.
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^ The rate for Bump-up Rate Term Deposits may be adjusted to the posted rate that is currently in effect, should the market rates rise to be more favorable. This bump-up adjustment can only be made once during your term, with a maximum increase of up to 2.00% above your initial rate.