Credit Union Share Certificates

Let your money do some of the work for you. Open a share certificate to see those savings rise!

Share certificates are term deposits that earn dividends at a higher rate — like certificates of deposit (CDs) at a bank. They're a saving method with a specified term and rate, during which time funds sit in their own account where they accrue dividends. While you are unable to access these funds during the term without paying a penalty or losing accrued dividends, share certificates are a surefire way to put your money to work for you and to earn more. This makes share certificates an excellent option for those with other savings accounts who want to ensure this money stays untouched regardless of other investments or economic changes.

Why Open a Share Certificate Savings Account?

Investing in share certificates is often a vastly different experience than simply opening a savings account. This is because share certificates offer quite a few advantages over your average account, such as:

Fixed-term savings: With a certificate, your money is secured for a designated period of time (term). To get the most out of your investment, you have to wait until the end of the term — when the certificate matures — to withdraw the funds. If you struggle with keeping money in a more accessible savings account, this may be the solution you need to help build your savings.
High dividend rates: Certificate savings accounts typically provide higher yield than traditional savings accounts, so your money can do more for you than sit there. Additionally, the longer your certificate term, the more dividends you can potentially earn.
Low-risk investment: Share certificates are low-risk investments. Unless you withdraw the funds early and take a penalty, you'll walk away at the end of the term with more money than you had, regardless of economic changes. Plus, share certificates are federally insured by the National Credit Union Administration (NCUA).
Safe, predictable returns: Since you'll know your dividend rate when you open your account, you can estimate how much money you'll earn over any given time period. This is a great way to boost your savings and create a habit of saving.

Share Certificates vs. Traditional Savings Accounts

A traditional savings account allows you quick, penalty-free access to your money. You can withdraw it at any time. A share certificate keeps your money in the account for a set amount of time and earns a higher dividend rate, but you can't withdraw it before the end of the term without paying a penalty. Which one is right for you depends on what you hope to achieve when saving your money.

For example, consider what's more important: your savings being accessible or earning more money. Savings accounts have much lower dividend rates, so you're not going to see your deposit grow as quickly over time. However, if you might need the money at a moment's notice, this might be OK for you.

Share certificates have a higher, fixed dividend rate, which leads to earning more money, but you won't have access to your funds until they reach maturity. This may be a good option if you have other accounts that increase your financial security. You can access those funds while the money in your share certificate is growing.

How to Open a Share Certificate Account with Blue Eagle Credit Union

Should you meet our eligibility requirements, your first step toward a share certificate is to become a member. You can apply online or make an in-person appointment at one of our local offices. However you choose to sign up, make sure you have your social security number, a valid photo ID, and your initial savings account deposit of $5 or more. From there, we can give you a detailed overview of our credit union's share certificate services and set up your account as soon as you're ready.

Open an Account Today to Earn More.

Already have an account at Blue Eagle CU?

Opening a share certificate is quick and easy! You can make an appointment to come into one of our office locations or to open your account with a virtual services team member from the comfort of your home, car, office, camping trip… wherever you are!

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Don't have a Blue Eagle Credit Union account yet?

See Banking Differently® and start your share certificate journey today with Blue Eagle Credit Union. We're here to help you Pay Less. Earn More. Have Fun.® Make an appointment to come into one of our office locations or to open your account with a virtual services team member. You can also open an account online.

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Frequently Asked Questions

They’re similar, just called something different. A certificate at a bank is called a “certificate of deposit” or “CD.” A certificate at a credit union is a “share certificate.” This goes back to structure: A credit union is a not-for-profit financial cooperative. Your deposits are your ‘shares’ in the credit union, because you’re a member-owner.
That depends on your needs and financial goals. We’ll be happy to discuss your options and help you determine which one best fits you.
Sometimes there are extreme and/or unexpected circumstances that make early withdrawal necessary. However, this should be rare and thoughtfully considered since early withdrawals result in penalties and a loss of money earned. If you have an extenuating circumstance, let’s talk about your options.
At maturity, you can decide to withdraw the money, without penalty, and place it in another account like your traditional savings account or checking account. You could also decide to let it automatically renew at the current dividend rate.