NORWICH, Conn. – Members of CorePlus FCU can earn a little more by correctly betting on the winning presidential candidate.
The credit union’s “Win-Win” 15-month certificate allows members to pick an “Obama CD” or a “McCain CD.” Each offers an initial rate of 3.75%, but will bump up after Election Day to 4% for the next president for the remainder of the CD’s term.
"We thought we’d have a little fun with the elections," Warren Scholl, president of the $190 million credit union, who thought of the idea on his way to the golf course one recent Sunday, told The Credit Union Journal.
To keep with the election theme, the minimum required investment is $2,008 and the maximum is $20,080.
So far, Republican John McCain leads Democrat Barack Obama by 29 to 24, among Win-Win investors.
