Certificates
Earn Higher Dividends Than a Regular Savings
Looking for a secure way to stash some cash with a guaranteed rate of return? Earn higher dividends than a regular savings, checking or money market account with a long-term or short-term share certificate. Not sure which terms are best for you? Let us help you find the right balance between having your money accessible and letting it grow.
Short Term Share Certificate
Terms from 90 to 365 days allow you to ensure you won’t spend your money… In the meantime, dividends are accruing daily and are paid at maturity. Knowing there is a penalty for early withdrawal is the motivation to just leave it alone.
Long Term Share Certificate
Terms from 12 to 60 months require more discipline and reward you with higher rates. Dividends accrue daily and are paid quarterly. If you need to make an early withdrawal, the penalty is as follows:
- For less than 18 months: forfeiture of all dividends on the amount withdrawn for 90 days.
- For greater than 18 months: forfeiture of all dividends on the amount withdrawn for 180 days.
Are you wondering what’s the difference between this and a certificate of deposit (CD)? Share Certificates are a credit union’s version of a bank’s CD.