Landing Rock Group LLC, an affiliate of Double Rock Corp., has successfully incorporated special certificates of deposit (CDs) and odd-term CDs into its regular offerings following a pilot program. 'The Landing Rock CD Marketplace continues to grow, and this year our customers are benefiting from CD specials and odd-month CDs,' said Robert Bent, Senior Vice President.
Bruce Bent II, President, noted that 'Landing Rock provides hundreds of CDs from banks and credit unions nationwide, updated twice daily. With the current market buzz about the Federal Reserve Bank potentially reducing interest rates before the end of 2024, we've noticed a trend of customers seeking to lock in higher rates for longer periods by purchasing more CDs.'
Odd-term CDs, also known as 'odd duration' or 'odd term' CDs, feature terms of 7, 8, or 13 months, as opposed to the typical 3, 6, 9, and 12-month maturities. These offerings, along with special rates, aim to attract new deposits and cater to customers seeking higher rates amidst potential interest rate changes. Landing Rock offers CDs ranging from 3 months to 10 years, with options for interest payments at maturity or monthly.
#banking #investing #fintech #oddtermcds Landing Rock Cash Management
VP of Indirect Lending at Veridian Credit Union
1moWelcome aboard Mitch, you’ll love the credit union, will be a fun ride!