SimpliCD (pronounced "simplicity") is a certificate of deposit program that enables credit unions to easily invest substantial funds in federally insured CDs. This turnkey program combines the security of CD investing with the advantages of competitive rates and consolidated reporting. Investing in federally insured CDs has never been so simple.
How Does It Work?
- Each day, SimpliCD searches its nationwide network of issuers for the best rates on federally insured jumbo CDs.
- You’ll be shown rates for CDs in terms ranging from six months to five years, and in amounts ranging from $99,000 to $20 million.
- Placements are made by purchasing multiple CDs in amounts between $99,000 and $250,000 at separately insured issuers. A detailed tracking system assures that we place no more than the Standard Maximum Deposit Insurance Amount of principal in any single financial institution within the SimpliCD program.
- SimpliCD purchases the CDs in a custodial capacity on your behalf, passing all federal insurance benefits through to you. You remain the legal owner of the CDs.
- SimpliCD tracks, monitors and collects all of your earnings. You'll receive a single consolidated monthly interest payment for all of your SimpliCD investments that received interest that month.
- Finally, in addition to your daily transaction statements, SimpliCD provides you with one monthly statement that details your entire SimpliCD portfolio.
SimpliCD is a convenient way to invest in federally insured jumbo CDs with minimum effort. Eliminate the hassle and time involved in investigating potential issuers and purchasing the CDs yourself. When you start investing through SimpliCD, your life gets a little less complicated.
- No more phone calls to multiple issuers to find competitive rates
- No more multiple wire transfers to invest in multiple CDs
- Flexible terms and amounts that fit into your investment strategy
- Free third-party performance reviews on SimpliCD issuers that help you make more informed investment decisions
- Single transaction settlement with no transaction fees
- Consolidated monthly reports for easier accounting and auditing
- The security of investing with federally insured institutions
Getting started is easy. Just contact your corporate or click here to locate a participating partner. Then start investing in a simpler way.