CD Custodial Accounts. Earn More. Worry Less.

How do you make your deposits work harder, while still keeping them safe? Better yet, how do you keep your money eligible for FDIC insurance—even when deposit amounts exceed the standard FDIC insurance maximum?

It's easier than you think with CD Custodial Accounts.

In partnership with MEMBERS® Trust Company, Certificate of Deposit Custodial Accounts (CDCA) are available to LGFCU members exclusively. With a CDCA you'll earn dividends on your account (in addition to earning the traditional interest on your CDs), all while maintaining eligibility for the standard maximum of FDIC insurance—even beyond the current $250,000 cap.

What is a CD Custodial Account?

A CDCA holds multiple certificates of deposit in one account, placing your CDs in a network of banks (CDARS®) so that your money is eligible for insurance up to the FDIC's $250,000 standard insurance maximum at each bank.

Together, interest plus dividends add up to one great rate.

Only funds on deposit with LGFCU for the qualifying time period are eligible for placement into a CDCA1. If you transfer your current LGFCU deposits to this CDCA, any withdrawal penalties on LGFCU Share Term Certificates will be waived (even if those certificates have not reached maturity). Not bad, considering the return a CDCA could earn you instead.

CDCA Features

  • $40,000 minimum deposit per selected term/CD
  • Terms of 2, 3 or 5 years
  • No fees or hidden costs
  • Access to multimillion-dollar FDIC insurance
  • Penalty only if you withdraw your CDs placed through the CDARS network before maturity
  • Fixed terms and rates
  • Interest and dividends compounded daily and credited semi-annually
  • Semi-annual statements
  • Offered exclusively by LGFCU
1 Please contact LGFCU to determine an eligible qualifying time period.

Ready to enroll?

Enrolling in a CDCA through LGFCU is easy. Call us directly at 877.870.3030, and we'll send you an enrollment kit either by FedEx, secure email or fax. (CDCAs are not available in our branches.) To lock in the rate you want, be sure to sign and return your enrollment kit by the deadline provided.

Additional questions?

For detailed information, read through our CDCA brochure, or contact us at 877.870.3030 or info@lgfcu.org today.

LGFCU has enjoyed a long partnership with MEMBERS® Trust Company, enabling us to provide Trust and Investment services to our members. MEMBERS Trust Company is owned by credit unions (including LGFCU) and, on our behalf, is a member of the Certificate of Deposit Account Registry Service,® or CDARS. LGFCU is now working with MEMBERS Trust Company to offer CDARS to our members.
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