Laddering Certificates are available in both taxable and IRA form at Travis Credit Union. Customers purchasing $50,000 of the certificates earn bonus interest rates. The $50,000 invested must be distributed across five maturities, with $10,000 in a 1-year certificate, $10,000 in a 2-year certificate, and so on for the full five years. Every time a CD matures, it auto-renews into a new 5-year certificate, unless the credit union is notified in advance. A 6-day grace period applies before auto-renewal, as does the early withdrawal penalty.
You can call the Member Service Center at (800) 877-8328 for additional information, but the account opening process for an IRA must take place in a branch. As with all Travis Credit Union accounts, youâ€™ll need to become a member before you can open an IRA. To open an account, youâ€™ll need to provide basic personal and financial information, along with your Social Security number, a valid ID like a state ID, passport or driverâ€™s license, and a funding source.