How does it work?
Step 1: Show us
Come to a branch and show us the CD advertisement or documentation with the rate, term, and other criteria from the Financial Institution you want us to beat with a Penn East Share Certificate.*
Step 2: WE BEAT IT !
We will beat any other local Financial Institution’s current CD promotion rate by .25% APY as long as the promotional term is between 9 – 25 months and max rate of 4.45% APY* with a Penn East Share Certificate.
*APY=Annual Percentage Yield. Penn East will beat another financial institution’s current and active Certificate of Deposit (CD) promotion by a maximum of 0.25% APY if the term is between 9 to 25 months. The maximum APY beat a rate is 4.45% APY, and the max deposit is $500,000. The definition of “Financial Institution” is a bank that accepts deposits into various savings and deposit accounts and gives out loans. These Financial Institutions must have a physical location in Lackawanna, Luzerne, Wayne and Wyoming Counties. If the financial institution’s CD promotion requires a certain amount of new money, that requirement must also be met by the individual to receive a better rate. Once the account is open, the rate will be honored until maturity, and after maturity, it will convert into a PEFCU standard rate. A penalty may be imposed for early withdrawal. This promotion may be discontinued at any time. Penn East FCU reserves the right to decline any membership or rate. Please contact the credit union for complete details.
