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Options to go short or long term.

Before opening a certificate, you will want to make sure you can do without the money for the duration of the term you’ve selected. You should also consider whether rates are likely to rise or fall in the future before you make your decision.

Our Certificates:

  • Require a minimum of $1,000 to open
  • Compound and pay dividends at maturity or monthly, depending on the term
  • Automatically renew at maturity for the same term at the current prevailing rate unless otherwise noted

You'll also have peace of mind knowing your accounts are insured up to $1,000,000. Federally insured by the NCUA up to $250,000 and insured up to an additional $750,000 by Excess Share Insurance, a private insurance company.

See Rates


Features and Benefits

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Manage Your Maturity in Digital Banking

While our CDs automatically renew, you can manage your maturity in Digital Banking for non-IRA CDs. Learn more about Digital Banking.

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Use to Fund an IRA

You an use any of our CD terms to fund a Traditional or Roth IRA

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Special Rates for Heroes Members

Members enrolled in our Loving Our Communities Heroes Program can enjoy a 0.10% rate bonus on certain terms. Learn more about our Heroes Program.

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Maximize Your Returns

Use a mix of short and long term CDs to develop a laddering strategy to maximize your returns as rates increase or decrease. Use our laddering calculator. 

Certificate & IRA Rates
Effective Date: Friday, July 19th, 2024
Minimum certificate deposit of $1,000 required.
Account TypeDividend RateAPYDividends PaidPenaltiesNote
3 Month Cert / IRA 2.96% 3.00% At Maturity 90 days*   
6 Month Cert / IRA 4.59% 4.65% At Maturity 90 days*   
12 Month Cert / IRA 4.41% 4.50% Monthly 180 days*   
18 Month Cert / IRA 3.93% 4.00% Monthly 180 days*   
24 Month Cert / IRA 2.96% 3.00% Monthly 180 days*   
36 Month Cert / IRA 2.72% 2.75% Monthly 180 days*   
48 Month Cert / IRA 2.72% 2.75% Monthly 180 days*   
60 Month Cert / IRA 2.72% 2.75% Monthly 180 days*   

APY = Annual Percentage Yield

A minimum of $1,000 is required to purchase all Share Certificates.

* Penalty for early withdrawal of funds may apply on Certificate products.

All member accounts are insured up to $1,000,000 (one million dollars) - Federally insured by NCUA up to $250,000 and insured up to an additional $750,000 by Excess Share Insurance, a private insurance company.

Certificate of deposit (CD) laddering strategy

Typically you can receive higher crediting rates on a CD if you commit to leaving your money with the bank for a longer period of time. This lack of liquidity causes many people to choose shorter-term CDs at the expense of receiving the higher interest rates. CD laddering is a strategy that gives you the benefit of receiving the higher-interest crediting rates of longer term CDs but still provide you with some liquidity. For example, rather than deposit $60,000 for a one-year period and renewing each year at a lower one-year rate, you could create a three-year ladder and put $20,000 in a one-year CD, $20,000 in a two-year CD and $20,000 in a three-year CD at the higher interest rates. After the first year, you take the one-year CD and purchase a new three-year CD. After the second year, you take the initial two-year CD and purchase a new three-year CD, and do the same with the initial three-year CD. Starting in year four, you will have the three CDs receiving the benefit of a three year rate but also have access to 1/3 of your money each year without penalty should you need it. Use this calculator to determine the additional interest you could earn with a CD laddering strategy.

CD Information and Assumptions

CD Interest Rates

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Are you ready to join LOC?

It’s easy to become a member of LOC Credit Union! 

Membership is open to anyone who lives, works, worships, or attends school in the state of Michigan. 

A current or eligible member's immediate family (spouse, sibling, child, grandchild, parent, grandparent) or an individual living in the same household of a current or eligible member can also join LOC.

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