Selco Cd Rates Calculator

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SELCO CD Rates Calculator

Project your savings growth with SELCO Community Credit Union certificates.

Daily Monthly Quarterly Annually
Maturity Balance $0.00
Total Dividends $0.00

By the end of your -month term, your investment will have grown by %.

Maximizing Your Savings with SELCO Community Credit Union

A Certificate of Deposit (CD), often referred to as a "Share Certificate" at credit unions like SELCO, is a low-risk investment vehicle designed to offer higher returns than a standard savings account in exchange for leaving your funds untouched for a set period.

Understanding the SELCO CD Math

This calculator uses the compound interest formula to determine your future wealth. Unlike simple interest, dividends earned on SELCO certificates are typically added back into your principal balance monthly or daily, allowing you to earn "interest on interest."

Key Inputs for Your Calculation

  • Initial Deposit: The amount of capital you move from your liquid savings into the certificate.
  • CD Term: The duration of time you agree to keep the money in the account (ranging from 3 months to 5+ years).
  • Annual Percentage Yield (APY): The effective annual rate of return taking into account the effect of compounding interest.

Example: 24-Month Strategy

If you deposit $10,000 into a 24-month SELCO certificate with an APY of 4.50% compounded monthly, your maturity value would be approximately $10,939.29. This results in $939.29 of passive earnings over two years, significantly higher than what a traditional savings account would offer.

Note: SELCO Community Credit Union, like most financial institutions, may apply early withdrawal penalties if you access the funds before the maturity date. Always verify the current official rates and terms at selco.org before committing funds.

function calculateSelcoCD() { var p = parseFloat(document.getElementById('initialDeposit').value); var tMonths = parseFloat(document.getElementById('cdTerm').value); var apy = parseFloat(document.getElementById('apyValue').value) / 100; var n = parseFloat(document.getElementById('compoundingFreq').value); if (isNaN(p) || isNaN(tMonths) || isNaN(apy) || p <= 0 || tMonths <= 0 || apy < 0) { alert("Please enter valid positive numbers for all fields."); return; } // Convert months to years var tYears = tMonths / 12; // Compound Interest Formula: A = P(1 + r/n)^(nt) // Note: APY is already the effective rate, but standard bank calculators // often use the periodic rate. For most credit union tools, the calculation // is based on the APY provided. var amount = p * Math.pow((1 + (apy / n)), (n * tYears)); var totalDividends = amount – p; var percentageGrowth = (totalDividends / p) * 100; document.getElementById('finalBalance').innerText = '$' + amount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('totalDividends').innerText = '$' + totalDividends.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('displayTerm').innerText = tMonths; document.getElementById('growthPercent').innerText = percentageGrowth.toFixed(2); document.getElementById('selcoResult').style.display = 'block'; }

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