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CenCorp introduces premium rate

SOUTHFIELD, Mich. - CenCorp said that credit unions with balances over $10 million in its Hi-Yield (overnight) account will receive a premium rate starting April 1. The rate is targeted to be 10 basis points higher than the rate on its standard tier. "CenCorp has avoided creating a `settlement' account...

By Staff Writer | Updated on February 19, 2002

<p>SOUTHFIELD, Mich. – CenCorp said that credit unions with balances over $10 million in its Hi-Yield (overnight) account will receive a premium rate starting April 1. The rate is targeted to be 10 basis points higher than the rate on its standard tier. “CenCorp has avoided creating a `settlement’ account that pays a minimal rate of interest to members. Member transactions are deposited to or withdrawn from a single account. Members do not need to monitor balances in multiple accounts and move funds on a daily basis to obtain a better return,” said CenCorp CEO Bill Walby.</p>

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