Term Share Certificates
Earn More on Your Savings
Maybe you have some money that’s sitting idle in another bank checking account, savings account, or even under your mattress. It’s time to take that money and finally put it to work for you earning more. Right now our Term Share Certificate is a very smart option.
If you don’t need immediate access to your funds, a Term Share Certificate offers you greater earnings than a savings account, and if you’re a Member, you can even open it right through memberONLINE. If you’re not yet a Member, call us to get started.
See term share disclosures at the bottom of the page.
What is a Term Share Certificate?
With its customized account options and higher dividends, the Term Share Certificate allows you to save smarter for longer-term plans and is similar to a Certificate of Deposit (CD), which banks offer under their FDIC Insurance. A Term Share Certificate, federally insured by NCUA, is available to any Member who can meet the minimum deposit balance and terms. Depending on your needs, you can choose terms from three months to four years, with the convenience of automatic renewal options. Term Share Certificates share a set of features in common:
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Monthly dividends
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Fixed rates
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$1,000 minimum deposit to open and earn dividends
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Additional deposits are not permitted
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Early withdrawal penalties apply
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Fees can reduce earnings on the account
Choosing What’s Right For You
A Term Share Certificate may be right for you. Get started by clicking below or call 315-735-8571 to discuss the details with a Financial Service Representative.
If you're looking for more flexibility, check out our Money Market below.
Get Started
More Flexibility: Money Market Accounts
If you need to access your funds on a regular basis or don't meet the requirements of a Term Share Certificate, you may be a good candidate for our Money Market account.
Money Market Accounts: Learn More
Options and Restrictions
Once you choose a term (three months to four years) and deposit your funds, your money is committed for that term. If you want to make a withdrawal before the full term, you do pay a penalty, so choose the term that fits your need for eventual access to your funds. Term Share Certificates typically offer higher returns than savings accounts, and longer terms generally earn higher dividends.
Redeeming Term Share Certificates
At the end of your chosen term, the “maturity date”, you can withdraw your total, the amount you deposited plus the dividends you have earned, without penalty. If you choose, you will also have the option to reinvest the total for a similar (or different) period, and the term will be reset.
Security
Under the National Credit Union Administration, your investment receives federal insurance protection up to $250,000 (similar to FDIC coverage in banks).