Credit unions can now invest in two-year certificates of deposit in the National Credit Union Foundation's Community Investment Fund with all principal and quarterly fixed-rate dividend payments throughout the entire term guaranteed by the NCUA.
Previously the NCUA had only authorized three- and five-year certificates.
"We commend NCUA for taking action to offer investors an attractive new option to earn federally guaranteed dividends while donating to credit union charities," said NCUF Deputy Director Steve Bosack. "Increasing deposits in the Community Investment Fund will provide critically needed programs and grants to more credit union members across America."
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