A Share Certificate is an account where funds are deposited for a pre-determined length of time. In exchange for agreeing to leave your money with us for this set time period, you may earn a higher yield than on a regular share savings account.
Investing in a Share Certificate is ideal for members who want their money to grow at a higher rate than a regular share savings account. Share Certificate terms range from 6 to 60 months with a minimum deposit of $1,000.
At maturity, certificates automatically renew for the same term, at the current rate, unless you instruct us otherwise during the renewal period. Dividends are compounded and credited monthly. The amount of dividends earned will be shown in your statement. Dividends may be deposited directly into a specified account or rolled into the certificate.
Don’t want to lock up all your deposits all at once?
LADDER your Share Certificates so they mature at different times.
Building your ladder is simple. The key is to divide your money evenly and open a group of Share Certificates with staggered terms and maturity dates. This way you will have access to a portion of your funds every few months as your Share Certificates mature.
For Example, if you have $100,000 to invest, break it into ten 2 years certificates of $10,000 each staggered to mature every 2 months. You will earn a higher APY* and still have $10,000 available every 2 months to use or reinvest.
Early withdrawals may be subject to a penalty1 and may reduce your earnings. Contact the credit union for further details.
*Annual Percentage Yield (APY) - The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the dividend rate and annual percentage yield may change at any time as determined by the Credit Union’s Board of Directors. Fees may reduce earnings.
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