5.05% APY* 13-Month & 4.75% APY* 18-Month Certificates Available!

How Does A Certificate Work?

A certificate is a special account that earns a higher interest rate in exchange for leaving your money in the account for a set period of time until it matures. There is also no minimum balance required to open a certificate, so you can open one with any amount of money. Once a certificate is opened, the funds are locked in for the selected term and funds cannot be deposited or withdrawn without penalty.

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

Who Should Have A Certificate?

If you’re saving for a future goal and don’t need your money right now, a certificate is a smart option for anyone! They’re especially popular with people who enjoy earning higher rates without worrying about investment risk. Certificates are popular with retirees and those near retirement looking for an investment that isn’t subject to the ups and downs of the stock market. Certificates also make an excellent medium-term savings vehicle for bigger goals like weddings or vacations. Certificates are also a good choice for kids’ savings accounts if you know they won’t need access to the money.

What Happens At Maturity?

A certificate matures when it reaches the end of its term. Upon maturity, the certificate enters a 10-day period where you can make any changes to the certificate 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. Members can set up preauthorized transactions to send monthly dividends to a savings account or to close out the certificate upon maturity.