Do you have some extra savings? A share certificate is an option you may want to consider. This is a great way for your existing money to grow into more money for you!
A Share Certificate is offered by credit unions whereas a Certificate of Deposit (CD) is offered by banks. A share certificate is a low-risk way to increase your savings for a fixed period of time.
Share certificates yield higher returns than a regular savings account. A share certificate is offered for a set amount of time called a term. The term is the amount of time your funds are kept in the account and that can range anywhere from six months to five years. Keep in mind, if you take your money out before the term is over, you could be penalized.
Share certificates can have fixed or variable rates. Fixed rates remain the same for the term of the certificate, where variable rates can vary depending on the specific terms of the account. The share certificate APY stands for annual percentage yield. This is how much you will earn in interest on your deposit. Share certificates with longer terms usually have a higher APY than those with shorter terms.
Share certificates are an ideal option for anyone looking to maximize their money. Take advantage of our “Sizzling Summer Share Certificate CD Rate” today and sit back and watch your money grow.