Looking for an easy, convenient, quick way to investment your excess funds? Look into SunCorp’s SimpliCD program. With the recently broadened scope of CDs offered through the SimpliCD program it is better than ever.
Through the SimpliCD program SunCorp offers members access to certificates of deposits from banks, credit unions and savings & loans without having to do more than call SunCorp. SimpliCD is now also offering CDs from larger institutions allowing members to take advantage of additional rate opportunities from an expanded number of issuers, some of which only provide CDs in specific markets.
“The SimpliCD program now has access to CDs offered by large, national financial institutions that it previously did not. This access became available because of its relationships in the brokered CD marketplace and because of SimpliCD’s reputation for placing large sums with issuing financial institutions in a speedy and efficient manner,” said Mark Solomon, CEO of Primary Financial the operator of our SimpliCD program. “The certificates of these issuers that are new to the SimpliCD program offer credit unions expanded opportunities to invest in a wider range of institutions, at great rates. Since starting this effort in early November over $150 million was placed with these new issuers in the first week alone.” he said.
Some of the benefits of SimpliCD include our tracking the investments you hold in the SimpliCD program to help you stay under the $250,000 insurance limit invested in any one institution. The ability to send you rates for any given day specific to your credit union taking into consideration what you hold in SimpliCD. In addition, the easy transfer of funds for investments into and out of your SunCorp account eliminates your sending wires and receiving interest payments by check. Users also receive emailed transaction statements for each purchase and a monthly statement listing all your holdings, interest etc.
There is no monthly fee to participate in the SimpliCD program and is a way to expand the offerings you see as you look for investments. Contact your Business Development Representative to learn about the SimpliCD program, or join us for a free webinar on October 25 to review the program. Registration for the webinar is available from our Online Learning Center.
The custodian for SimpliCD is Primary Financial Co LLC, a CUSO owned jointly by corporate credit unions. Rates are subject to availability and could change without notice. Please call your representative for current rates and availability.