Certificate accounts are the credit union equivalent of a certificate of deposit (CD) at other financial institutions. Unlike stocks, certificate accounts always hold their original value, and they accrue interest over time. For these reasons, a certificate account is one of the safest ways to save for a variety of things, from a dream vacation or a down payment on a home to retirement.
In addition to our regular certificate accounts with terms of 3 to 60 months, we offer these special certificate accounts intended to help members reach specific savings goals:
- The Basic Certificate account is a 6-month fixed rate certificate requiring only a $500 minimum deposit.
- The Special Savings Certificate account is designed to simplify efforts to save money for future major purchases. You make deposits on a regular, predetermined schedule and receive a preferred interest rate with dividends credited back to the account monthly.
- The Home Savings Certificate account for first-time home buyers allows members to save for the down payment and closing costs of their first home. You make deposits on a regular, predetermined schedule and receive a preferred interest rate with dividends credited back to the account monthly.
- The Member’s Advantage Share Certificate account has a 15-month term and a minimum opening deposit of only $5,000. One additional deposit of at least $1,000 is allowed during the term, and if the rate for the certificate increases, you have the one-time option of bumping your rate up to the higher rate for the remainder of the term. Special conditions apply to this certificate. Call one of the phone numbers below for more details.
To review the available options and determine which best suits the amount, duration and desired yield of your planned investment, call us at 800-342-3086 or 931-455-5441. You can also send us an email.