AMERIPRISE CERTIFICATE CO
Ameriprise Certificate Company filed its 10-Q for the quarter ended September 30, 2026. Net income declined 20% YoY to $58.0M for the nine-month period, driven by a 33% ($137.2M) drop in investment income as both average investment balances and yields contracted. Client deposits fell $1.6B to $7.3B, marking eleven consecutive quarters of net outflows.
- Net income fell $14.6M (20%) to $58.0M for the nine months ended September 30, 2026.
- Investment income dropped $137.2M (33%) YoY, driven by lower average investment balances and declining short-term rates.
- Client deposits fell $1.6B to $7.3B; ACC has experienced net outflows for eleven consecutive quarters.
- Average certificate reserve balance declined to $7.5B from $10.2B, with average crediting rate falling to 3.10% from 3.73%.
- Net realized gains on investments collapsed to $0.2M from $2.8M in the prior-year period.
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Eleven consecutive quarters of outflows and a 33% investment-income collapse signal accelerating structural decline in ACC's legacy certificate business, with implications for parent Ameriprise Financial's capital returns.
ACC, a wholly owned subsidiary of Ameriprise Financial (AMP), operates as a face-amount certificate company — a niche legacy product. Persistent outflows and declining balances mirror the broader industry trend away from these instruments as rates fall and investors seek higher-yielding alternatives.
Eleven consecutive quarters of net outflows signal structural decline in the certificate book. The 33% drop in investment income reflects sensitivity to falling short-term rates, and the shrinking asset base ($7.1B in AFS securities) compounds earnings pressure. No material changes from 2025 10-K risk factors were reported.