Certificates

A certificate is a special account that earns a higher dividend rate in exchange for leaving your money in the account for a set period of time until it matures. Royal's certificates have competitive rates and no minimum opening balance. The rate is locked in for the term you choose, so the returns are guaranteed at maturity.

Want to learn more about saving with certificates? Check out our Money Donuts® podcast!

Royal offers a wide range of certificate terms to fit your savings goals, from as short as 3 months to as long as 72 months. Shorter terms give you quicker access to your funds, while longer terms may offer different rate opportunities. No matter which term you choose, your rate is locked in for the life of the certificate, so your returns are guaranteed at maturity.

When a certificate matures, it enters a 10-day period where you can make any changes, including closing it out, changing the term, and adding or withdrawing funds. If no action is taken in those 10 days, the certificate will automatically renew for the same term.

If you're saving for a future goal and don't need your money right now, a certificate is a smart option. Certificates are especially popular with retirees and those near retirement looking for an investment that isn't subject to the ups and downs of the stock market. They also make an excellent medium-term savings vehicle for goals like weddings or vacations and are a good choice for kids' savings accounts.

Yes. Royal Credit Union's Certificate Management tool is built into the mobile app and online banking, making it easy to stay on top of your certificates. You can use it to change your maturity instructions, close a certificate early, add or withdraw funds during the grace period, choose a new term at maturity, and manage how your earned interest is handled. You can also sign up for electronic statements to receive certificate maturity notices by email, so you never miss your maturity window.