Share Certificate

A share certificate at a credit union represents ownership of a deposited amount for a fixed term, earning interest.

More Details

A share certificate at a credit union is a document that represents ownership of a specific amount of money that has been deposited with the credit union for a fixed term. These deposits earn interest over the term of the certificate.

Example

As a credit union member, you might choose to open a share certificate account, which is similar to a Certificate of Deposit (CD). Share certificates generally offer a higher interest rate than regular savings accounts, and they have the added security of being FDIC-insured (up to the maximum insurance limit). When you open a share certificate at a credit union, you'll need to choose the term of the certificate and the amount you'd like to deposit. You'll then receive a share certificate as proof of your ownership, which you can hold onto for the duration of the term. When the certificate matures, you'll have the option to withdraw your money or renew the certificate for another term.

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