Certificate Accounts

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Certificate Accounts

A safe, secure way to save any goal. Certificates offer safety or principal, even in falling rate environment, making them a no-risk investment.

When you open a share certificate, you’ll already know the dividends you’ll receive upon it’s maturity date, provided you don’t make any early withdrawals (early withdrawal penalties apply).

You can choose between short and long term investment options, depending on your financial goals and current interest rates.

  • Low Minimum opening balance

    Minimum Balance of $1,000.00

  • Your accounts are insured by the NCUA fund.

    Your account is insured to at least $250,000.00 Visit mycreditunion.gov to learn more about Share Insurance Coverage and to access resources including a Share Insurance Estimator tool.

  • Higher Interest Rates

    Earn higher yields than savings, checking, and tiered money market accounts.

  • Flexible terms

    Flexible terms of 12, 16 and 24 months

  • Maturity Notifications

    Receive certificate maturity notifications via email with CU Notices. Sign up through Home Banking under E-Notices.

  • Renew Automatically

    Set, forget, and let your savings grow with a certificate that will automatically renew at the prevailing rate when your term ends*.

FREQUENTLY ASKED QUESTIONS

As your certificate maturity date approaches, we’ll send you a notification including your maturity date and your options.

Upon maturity, you’ll have the option to:

  • Choose a different certificate term
  • Move the money to a checking or savings account
  • Withdraw the money and deposit into a different bank
  • Let the certificate renew for the same term, at the current rate

You’ll have a 7 day grace period to decide what you would like to do. However, if you choose to do nothing, your certificate will automatically renew.

Yes! Once your certificate has reached maturity, you have a 7-day grace period to make changes to your account before it automatically renews. A notice will be sent out before the maturity date. Sign up for E-Notices to receive this information electronically.

At maturity, you can choose to close the certificate and deposit the funds or request a check with the proceeds. You can also choose to withdraw part and rollover the remainder into a new CD.

Interest compounds daily and is posted monthly.

If a withdrawal of principal of your certificate account is made prior to the maturity date of the certificate, the early withdrawal penalty will be equal to:

If the certificate account term is 12 Months:

90 days of accrued dividends, whether earned; or

no penalty if the date of issuance or renewal not to be less than 7 days’ dividends on a new account

If the certificate account term is 13-24 Months:

180 days of accrued dividends, whether earned; or

no penalty if the date of issuance or renewal not to be less than 7 days’ dividends on a new account

* If the existing term of the certificate is no longer available, it renews to the closest term that is below the current product. If account remains inactive it may be escheated. For more information, please refer to our fee schedule.

Annual Percentage Yield. Rates are subject to change without notice. APY assumes all dividends remain in the certificate until maturity. Withdrawals will reduce earnings. Fees could also reduce earnings. Penalties may be imposed for early withdrawal.

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