Certificate for Savings

No one wants to play around with their savings. You work hard for your money and if you’ve built up a sizable amount, you’ll want to park it somewhere safe where it will have the best chance at growth. Here’s why this savings product might be the perfect choice for you.

What is a share certificate?

A share certificate is a [federally] insured savings account with a fixed earning rate, and a fixed date of maturity. The dividend rates of these accounts are usually higher than on savings accounts, but you’ll have limited access to the funds. Most certificates will not allow you to add any money to the certificate after you’ve made your opening deposit, and you won’t be able to withdraw your funds before the maturity date without paying a penalty.

Terms and conditions of certificates

You’ll need to meet some basic requirements before you can open a certificate, including a minimum opening balance and a commitment to keep your money in the account for a set amount of time. These requirements vary with each institution, but generally, you’ll have a higher earning rate with more money invested, or with a longer maturity term.

Is a share certificate for everyone?

A share certificate is best for individuals who have a separate emergency fund to cover those surprise expenses. Before you open a certificate, make sure you won’t need to access those funds before the maturity date.

What are the advantages of a share certificate?

Low risk. With each Guadalupe Credit Union certificate insured by the NCUA up to $250,000, your money is completely secure.

Higher dividend rates. Certificates offer all the security of savings accounts with a higher return on investment.

Locked-in rates. The earning rate on a certificate is set when the account is opened and is locked in until its maturity date.

If you're interested in a share certificate, GCU has options for you! Check out our rates here or stop by one of our branches, and let your money work for itself.