If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at 1.800.633.7077.
If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at 1.800.633.7077.
We understand you might have some questions. We’ve compiled a list of frequently asked questions and we’ll add to this as others arise. Of course, you can always give us a call at 1.800.633.7077, or email us at e-mail@cefcu.com .
If you only had a Certificate of Deposit account(s) at Simmons Bank, CEFCU will open a new Savings Account for you and fund the $5 required to open the Savings account. CEFCU is a credit union and those that do business with CEFCU are the Credit Union’s member/owners. To be a member, you must have a $5 share in a Savings account. CEFCU funded this $5 account for all new members coming from Simmons Bank. Your Certificate of Deposit account(s) will be listed as your Savings account number with the addition of a unique suffix to identify each Certificate of Deposit.
Yes, the maturity date at the time your Certificate of Deposit(s) transferred to CEFCU will remain the same.
Yes - the minimum amount required to open a CEFCU Certificate of Deposit Account is $1,000. CEFCU also offers a product called a Jumbo Certificate and the minimum opening balance is $100,000.
Dividends are compounded and credited monthly and the dividend period is monthly. For example, on a Certificate opened on the 15th, the dividends will post the following month on the 15th.
Dividends earned on a Certificate of Deposit can be posted back to the Certificate, to another CEFCU account, or we can mail a check to you.
Your dividends will no longer be transmitted by ACH and will now post to your CEFCU Savings Account. CEFCU offers the option to set up an external ACH transfer from your Savings through CEFCU On-Line® or Mobile Banking.
If CEFCU does not offer the same term, your Certificate will renew for the next longest term offered at CEFCU. If CEFCU does not offer a longer term, your Certificate will renew for the longest term offered at CEFCU.
The grace period is 7 calendar days.
Interest posted from Certificates can be withdrawn at any time without penalty. All other withdrawals can be done during the 7-day grace period after the date of maturity in order to avoid a penalty.
Deposits to a Certificate are only allowed during the 7-day grace period after the date of maturity.
Yes, please visit your local CEFCU Member Center or call the Member Contact Center at 1.800.633.7077 to set up future instructions.
Please visit the Certificate information page on our website, or call to speak to a representative at 1.800.633.7077 with any questions related to Certificate of Deposit Accounts at CEFCU.