SimpliCD

SimpliCD (pronounced “simplicity”) is an established investment product offered by Volunteer Corporate Credit Union that enables credit unions to invest substantial funds in federally-insured certificates of deposit.

Primary Financial, LLC is the CUSO owned by a group of over two dozen corporate credit unions (including Volcorp), who serve as custodians, and administer the SimpliCD program.

First, with SimpliCD, your participation can be as limited or extensive as you like, because there are no minimum purchase requirements and no co-agent or finder’s fees. Second, the rates from SimpliCD are “net to you” (the rate you’re quoted is exactly the rate you receive).

Yes! By placing no more than $248,000 per issuing institution, SimpliCD can invest large amounts and still maintain fully insured protection for your principal. We can do this because of our extensive network of issuer partnerships, which offers numerous investment opportunities without exceeding federal insurance coverage or your potential for fully insured investing.

SimpliCD lets you invest in a multitude of CDs, while keeping track of each investment and sending you only one comprehensive statement.

Please note: An On-Own List contains CDs owned by the investor outside of those purchased through SimpliCD. If CDs are held outside the program, SimpliCD should be made aware of those holdings to reduce potential duplication.

Often, brokers offer what look like more competitive rates, but behind those attractive rates are hidden costs – like broker fees, wire in and out fees, and charges for time collecting checks, filling out paperwork, and tracking investments. All of these hidden fees heavily affect your bottom line and makes your investment much more expensive in the long run.

With SimpliCD, the rate you are quoted is the rate you get, with no hidden costs or fees.

In addition, by participating in the program, you receive top-quality investment services and a variety of statements that ease your monthly accounting as well as your compliance with NCUA Part 703 reporting requirements.

We work only with issuers that have been categorized as “well-capitalized” by the FDIC or that are considered “adequately capitalized” and that have received special permission to accept brokered deposits by the FDIC.

And at the time of purchase, we offer you a performance review of the issuing institution, complete with a variety of information relating to safety and soundness, including summary financial statements and comparative ratio analysis. Primary Financial provides the institution’s Veribanc Color & Star rating and their estimated CAMEL rating, both based on the institution’s profitability, capital adequacy, asset size, and loan quality.

All this ensures that you are only working with institutions with proven integrity and soundness.