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SimpliCD Online: Member testimonials, plus four reasons to invest in SimpliCD right now

By: Jeff Duesler, Senior Investment Services Representative

You may recall that in February of 2016, Corporate One became the first corporate credit union to offer Primary Financial Company’s new SimpliCD online-trading platform. SimpliCD Online offers easy, convenient access to trading and investment research at the credit union level. And our members agree!

“In a time when almost everything has become digital, we have found that SimpliCD Online really suits our needs.” - Rick Walker, CFO, PowerNet CU

Specific benefits of SimpliCD Online include:

  • One-click trades.
  • Real-time availability of trade confirmations.
  • An up-to-the-minute look at offerings currently available to your credit union’s portfolio.
  • One centralized place to see upcoming maturities.
  • A messaging system that connects directly with your Corporate One investment representative, saving time and space in your inbox.

“I really like using SimpliCD Online,” says Susie LeBouef, CFO of Priority Credit Union. “As the CFO of my credit union, I’m constantly looking at my cash balances throughout the day. If I have funds to invest, I then look at SimpliCD Online to see what options are available. I usually find a few things I’m interested in, and the whole process only take a couple of steps.”

Rick Walker, CFO of PowerNet CU, echoes the ease and convenience offered by SimpliCD online. “In a time when almost everything has become digital,” says Rick, “We have found that SimpliCD Online really suits our needs. Instead of calling or emailing a corporate representative for information, it is much easier and faster to go online and just ‘point and click’ on the investment option that meets our needs, especially if there is limited availability.”

Even with all the ease and convenience of SimpliCD Online, you might still be wondering if you should really be spending your time investing in CDs because interest rates still aren’t all that great. Here are four reasons why SimpliCD as an investment solution currently trumps your other options.

  • You get the safety and security of federally insured deposits. One of the reasons credit unions choose to invest in certificates of deposit (CDs) is because they are insured by either the FDIC or the NCUA. This insurance takes any credit risk off the table. The only other investments that have an explicit guarantee are Ginnie Mae (GNMA) securities and U.S. Treasuries. Provided your credit union stays under the specified limits per insured institution (currently $250,000), the worst-case scenario is that interest and principal is returned prior to the certificate’s maturity date.
  • You access individual institutions that are only available through the SimpliCD program. SimpliCD is in a unique situation: Every eligible federal credit union using the program is also a potential issuer! Issuers, whether bank or credit union, realize how easy and effective raising funds are through the program; they don’t look elsewhere. In addition, did you know the major corporate credit unions in the country, including Corporate One, are both an owner and participant in the SimpliCD program? This puts Primary Financial in the credit union service organization (CUSO) category and, more importantly, in the category of “owned by credit unions, serving credit unions.”
  • You manage your investments with ease whether you’re a large, small, or mid-sized credit union. There’s a myth out there that implies CD buying is just for small credit unions. This used to be a true statement when buying CDs, especially direct CDs with an institution. But SimpliCD has made this a moot point with the availability of block quotes and ease of use if buying individual names. This makes it easy for credit unions using the program to manage short and intermediate cash flow needs. It is also an alternative to bullet agency securities.
  • You support your fellow credit unions who are looking for liquidity through bringing in non-member deposits. Because of credit union loan growth and a growing population of borrowers in several states, the need for funding through sources, like bringing in non-member deposits, has never been greater. As you are aware, credit unions are limited in their non-member deposit choices; they’re namely limited to other credit unions in most cases. When you purchase through SimpliCD, you can assist these credit unions by supporting the cooperative movement and picking up yield to comparable investment options.

Getting started with SimpliCD Online

Want to start making SimpliCD trades online? It’s easy.

SimpliCD Online is single sign-on via Members Only, Corporate One’s online member portal. This means once your credit union’s authorized users sign into Members Only, using their multi-factor authentication credentials, they will be able to access the SimpliCD platform without logging in to an additional system.

To authorize user access to Members Only/SimpliCD, you may create new Members Only profiles and/or modify an existing user’s profile. For more information on this process and to access our training materials, please contact your senior investment services representative at 800/366-2677.