Citadel Steps Up With Laddered Certificate

Citadel Federal Credit Union, Thorndale, Pa., recently introduced a new and unique share certificate. It gives members an investment option that offers not only higher rates but also the flexibility to ladder their money at the higher rates.

Citadel Federal’s laddered certificate was initiated in late March and will run until late June. During the promotion’s first four weeks, Citadel brought in more than $8.5 million.

"We wanted a certificate that was unique and that would set us apart from other financial institutions," says Maria Steffy, vice president of finance. "We wanted a competitive advantage with this offering."

Citadel Federal members who invest $75,000 or more in a single transaction have the opportunity to ladder their funds in multiple terms at different amounts, while at the same time benefiting from a rate above the jumbo rate. The advantage to laddering share certificates is that members don’t have to worry about interest rates. With maturity dates following one after the other, if interest rates go up, customers have the opportunity to invest in those higher rates. If they go down, customers have the security of knowing they're locked into a higher rate.

"We feel confident that the new certificate will intensify over the next few months," Steffy notes. "All of the new products we offer are the result of our commitment to providing Citadel Class Service with each individual transaction."