Skip to main content
Upcoming Holiday Hours - December 2024 and January 2025

Flex Rate Certificates (Variable Rate)

Higher APY compared to our Fixed-Rate 1- and 2-Year Certificates

Buy a Flex Rate Certificate

Or call 1-800-621-2105

  1. Home
  2. Savings
  3. Certificates and IRAs
  4. Flex Rate Certificates (Variable Rate)
Flex Rate Certificate (Variable Rate) Dividend Rate  APY 
12 Month Term 4.50% 4.66%
24 Month Term 4.50% 4.66%

Flex Rate Certificate (Variable Rate) Annual Percentage Yield (APY) effective as of December 19, 2024, and may change without notice. The dividend rate and APY are based on the current Prime Rate index as published in the Wall Street Journal minus a margin of 3.00%. The dividend rate and APY are variable and will adjust the next business day following a change in Prime Rate index. The minimum floor APY for the flex rate certificates is 0.00% and the maximum APY will never be greater than 17.00%. Minimum deposit of $1,000 to open certificate. Primary members under the age of 18 must have a $500 minimum deposit to open certificate. Minimum of $500 balance required to earn dividends. Health Savings account funds are not eligible. Fees may reduce earnings. Penalty for early withdrawal. Elements reserves the right to amend or discontinue offers at any time and to limit the balance of a certificate at any time.

Questions?

Our experienced, helpful member service team is ready to support you!

1-800-621-2105

Live Chat

Flex Rate Certificates (Variable Rate)

Adjusts with Prime Rate minus a margin of 3.00%

KEY FEATURES

  • Achieve financial fitness with a 12- or 24-month Flex Rate Certificate (Variable Rate) at 4.66% APY1
  • Higher rate than most regular savings accounts
  • Available in 12- and 24-month terms
  • Higher APY compared to our Fixed Rate 1- and 2-Year Certificates
  • Dividend rates that keep pace with a changing rate environment by flexing when the Prime Rate changes, up or down
  • Available in amounts of $1,000 or more (as little as $500 if under age 18)

Buy a Flex Rate Certificate

MIGHT BE A GOOD CHOICE IF

  • You want to diversify beyond traditional savings accounts and other investments
  • Trade-off: Must wait to access funds until the Certificate term is up

Compare to Other Savings Options

What is the difference between a Share Certificate, a Flex Rate Certificate, and a savings account?

There are two main differences: a Certificate can earn higher dividends, but you must wait a specified amount of time to get the money back out. See additional differences below:

Flex Rate Certificates (Variable Rate)

  • Possibly get higher rates than savings accounts when you select longer terms
  • Choose a 12- or 24-month term
  • No fees when you hold your account to maturity, but there can be penalties for early withdrawal
  • No access to your deposit through checks, ATM transactions, or electronic transfers
  • Rate will adjust with Prime

Share Certificates (Fixed Rate)

  • Rate doesn't change during the term of the account
  • Accurately estimate your earnings over time with a fixed rate
  • Possibly get higher rates than savings accounts when you select longer terms
  • Choose a term from 6 months to 5 years
  • No fees when you hold your account to maturity, but there can be penalties for early withdrawal
  • No access to your deposit through checks, ATM transactions, or electronic transfers

Savings Accounts

  • Rate can adjust while you hold the account
  • Typically lower rates than Certificates, but your funds are liquid and easily accessible
  • The Elements Helium Savings Account has rates as high as 1.00% APY2 for balances greater than $2,500
  • Access to your deposits through ATMs and compatible with electronic transfers

Compare to Other Savings OptionsBuy a Flex Rate Certificate

How does a Flex Rate Certificate compare to other savings options?

Compare a Flex Rate Certificate to our other options below.

  Flex Rate Certificates (Variable Rate) Share Certificates (Fixed Rate) Member Savings High Yield Savings
  Buy a Flex Rate Certificate Buy a Share Certificate Open an Account Open an Account
Key Benefits

Dividend rates that keep pace with a changing rate environment by flexing when the Prime Rate changes, up or down

Higher rate than most regular savings accounts

No monthly Maintenance Service Charge

No monthly Maintenance Service Charge
A Good Option If You

You want to diversify beyond traditional savings accounts and other investments

Want a more predictable savings balance

Want to diversify your investments

Want a simple Savings account to establish your Elements membership

Like to earn higher dividends on your higher balances
APY Varies by term Varies by term 0.20% on balances $50,000 and above3 4.00% on balances $10,000 and greater4
Rate Structure Dividend rates that adjust with the Prime Rate Dividend rates that increase with the length of the Certificate term Tiered dividend rates that increase as your account balance grows Tiered dividend rates that increase as your account balance grows
Minimum Balance to Earn Dividends — — $100 $0.01
No Monthly Maintenance Service Charge
Minimum Balance to Open — — $5 —
Available Terms 12 and 24 months 6 months to 5 years — —
Available Amounts $1,000 or more ($500 or more if under age 18) $1,000 or more ($500 or more if under age 18) — —
No Monthly Inactivity Fee — —
Unlimited Transactions Per Month Allowed — —
  Buy a Flex Rate Certificate Buy a Share Certificate Open an Account Open an Account

How are dividends calculated on a Certificate?

For each account, the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date.

What is the penalty for early withdrawal on a Certificate?

The amount of the early withdrawal penalty is based on the term of your account. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account.

For the Flex Rate Certificate, the penalty will be calculated based on the current dividend rate applicable to your Flex Rate Certificate at the time of early withdrawal.

Why should I choose Elements for a Certificate?

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves in being a trusted source for financial education. Your financial wellness expert will come to your workplace to answer questions and provide you with one-on-one assistance as you navigate the changes that come with each of life's stages.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 5% of credit unions nationally5. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

Get Started

How do I get my Flex Rate Certificate?

Getting started is as easy as 1-2-3!

  1. Buy a Flex Rate Certificate online - Open a Flex Rate Certificate account online in as little as 10 minutes. Or call 1-800-621-2105 to get started. Have your government-issued ID (driver’s license, state ID, or passport) and your Social Security number ready.
  2. Check your email - You will receive an email within one business day to notify you that your Certificate account is approved. That’s it! You now own an Elements Certificate.
  3. Enroll in Online Banking - Easily check your balances, make loan payments, pay bills, and transfer money between accounts from your smartphone, tablet, laptop, or desktop. Learn more about Online Banking.

Buy a Flex Rate Certificate

You Might Find Helpful

College Advice

View all College Articles

Members Also Viewed:

Other Certificate Options
Other Ways to Save
  1. 1 Flex Rate Certificate (Variable Rate) Annual Percentage Yield (APY) effective as of December 19, 2024, and may change without notice. The dividend rate and APY are based on the current Prime Rate index as published in the Wall Street Journal minus a margin of 3.00%. The dividend rate and APY are variable and will adjust the next business day following a change in Prime Rate index. The minimum floor APY for the flex rate certificates is 0.00% and the maximum APY will never be greater than 17.00%. Minimum deposit of $1,000 to open certificate. Primary members under the age of 18 must have a $500 minimum deposit to open certificate. Minimum of $500 balance required to earn dividends. Health Savings account funds are not eligible. Fees may reduce earnings. Penalty for early withdrawal. Elements reserves the right to amend or discontinue offers at any time and to limit the balance of a certificate at any time.
  2. 2 Helium Savings Annual Percentage Yield (APY) effective as of December 1, 2024, and may change after account opening without notice. 0.10% APY on balances $0.01-$2,499.99; 1.00% APY on balances $2,500.00-$9,999.99; 1.00% APY on balances $10,000.00 and Above. $5 required minimum balance to open the account. No monthly Maintenance Service Charge. Fees may reduce earnings. 
  3. 3 Member Savings Annual Percentage Yield (APY) effective as of December 1, 2024, and may change after account opening without notice. 0.10% APY on balances $100.00-$2,499.99; 0.15% APY on balances $2,500.00-$49,999.99; 0.20% APY on balances $50,000.00 and Above. Minimum daily balance of $100 required to earn dividends. $5 required minimum balance to open the account. No monthly Maintenance Service Charge. Fees may reduce earnings. 
  4. 4 High Yield Savings Annual Percentage Yield (APY) accurate as of December 1, 2024. High Yield Savings is a tiered savings account paying a variable dividend rate, that may change at any time, on the entire balance in your account based on the rate for the tier corresponding to each day’s daily balance. The account is available for new money only which are funds not on deposit at Elements for 90 days prior to opening the High Yield Savings account. Existing Elements members with savings accounts must deposit $25,000.00 or more of new money within 10 days of opening the High Yield Savings account. Existing Elements members with savings accounts with combined daily balances of $2,500.00 or less for the 90 days prior to account opening are excluded from the new money requirement. Additional information for each tier: An APY of 0.10% applies to accounts with balances from $0.00 to $99.99; from $100.00 to $2,499.99; and from $2,500.00 to $9,999.99. An APY of 4.00% applies to accounts with balances from $10,000.00 to $24,999.99; from $25,000.00 to $49,999.99; from $50,000.00 to $99,999.99; from $100,000.00 to $249,999.99; and $250,000.00 and above. At least one account holder must be 18 years of age. Other qualifications may apply. Offer may be discontinued at any time. Fees may reduce earnings.
  5. 5 Based on asset size as of 9/3/2024.