Certificates

Term Share and Step Rate Certificates (similar to a bank's certificate of deposits) are the perfect investment tool to keep your money safe and secure.

Certificates allow you to reap the rewards of saving, without exposing your money to the higher level of risk commonly associated with the stock market.

Length of Term

You can choose between a variety of terms ranging from six months to five years.
It is very important you determine whether or not you will need this money before the certificate matures because funds withdrawn prior to the maturity date are subject to penalties.

Term Share Certificate Details

Open a certificate with a minimum deposit of $1,000.
To earn dividends, you must maintain an average daily balance of $1,000.
The interest rate on a certificate is fixed, which means the rate you earn on the day you open the account is the same on the day the account matures, regardless of how many rate changes occur. A fixed rate allows you to determine exactly how much money you will earn.
Once the account is open, you cannot make deposits to the certificate until the maturity date.
At maturity, you have ten days to make any changes to the account.

Federally Insured

The National Credit Union Share Insurance Fund federally insures our certificates. The full faith and credit of the United States government backs this fund.

How can a certificate help you?

Our members have a variety of reasons for investing their money in certificates. The following examples demonstrate how people can use certificates to reach their goals.

Example 1:
Jane and Bob have a 16-year-old son who will be going to college in a couple of years. Over the years, they have saved money to pay for his college education through a variety of investments in the stock market. However, the instability of the stock market convinced them to seek a safer place for the education fund. Knowing it is two years before the money is needed, they decided to put $16,000 in a two-year Term Share Certificate (similar to a bank's certificate of deposit). At an Annual Percentage Yield of 3.60%, they will have a total of $17,172.92 available for their son’s education when the certificate matures in two years.

Example 2:
Mrs. Parker retired several years ago. With the advice of a financial planner, she has managed to save enough money to enjoy her golden years. Part of her savings plan includes several Term Share Certificates at the Credit Union. In order to insure she has access to her savings at different times in the future, she has three different certificates: a six-month certificate for $5,000; a one-year certificate for $25,000; and a three-year certificate for $50,000.

Example 3:
Jack is saving money to buy his first home. He knows it will be at least two more years before he has enough money for a down payment. Jack decides to put the $7,000 already saved into a two-year certificate.