Certificates of Deposit

A Certificate Account offers a set rate of interest on a specific sum of money for a particular period of time. Certificates have an established minimum deposit amount and a predetermined maturity period.

  • Minimums deposit of $500 for Regular Certificates and $25,000 for Jumbo Certificates
  • Fixed-rate dividends are paid quarterly for the length of the term
  • Once the certificate has been opened, you cannot make any additional deposits
  • No partial withdrawals of principle allowed
  • Closing or withdrawal of funds before the end of the term may incur an interest penalty             
  • A notice will be sent by mail approximately 30 days before the certificate maturity date explaining your rollover options
  • Once certificate has reached maturity, account holders have 10 days to decide options before certificate is automatically rolled over under the same terms
  • Can be used as collateral on a Credit Union loan
  • Higher dividend rate apply for Jumbo Certificates