ARVADA, Colo.–Partner Colorado Credit Union said it was able to exceed a new deposits goal by 200% with a special offer.
The credit union offered a High Rate CD that paid rates above its current offerings on 12-, 18- and 24-month terms. Member were also invited to extend terms on current certificates they had with the credit union.
The High-Rate CD offered a 3.00% APR for a 24-month term. The promotion resulted in 659 promotional CDs opened for $20,027,620 and 43 new members, the credit union said.
“What makes the credit union thrive is attracting and retaining deposits,” says PCCU CFO Doug Fagan. “Our business is bringing money in and lending money out. If we don’t have half of that equation, we’re not doing our job. Offering a competitive CD is part of our ongoing strategy to hit our member growth, retention and core deposit goals.”
The $400-million Partner Colorado has approximately 32,000 members, primarily in the Denver metro area.