Share Certificate Account

Share certificate similar to banks certificates of deposit and money market accounts are both great short term investment products that will yield more than a regular savings account but its important to know which best suits your needs and priorities.

Share certificate account. A share certificate account is similar to a certificate of deposit cd but it is issued by a credit union rather than a bank. Open a share certificate account with a minimum balance of 1000. Earnings will be paid directly to the member added to regular shares at the discretion of the member or added to the principal of the certificate. Choose from a variety of terms ranging from 91 days to 10 years.

What is a share certificate. You cannot withdraw your funds during the pre selected length of the term without penalty but you will most likely earn a higher rate than any of the above mentioned options. A share certificate is a certificate of deposit issued by a credit union. Certificate rates the dividends or earnings you can make on a share certificate are typically quoted in terms of the annual percentage yield or apy.

It represents a deposit that is made for a certain period of time that earns specified. Most term share certificates require a minimum investment typically ranging from 500 to 1000 or more. A share certificate is a written document signed on behalf of a corporation that serves as legal proof of ownership of the number of shares indicated. Share certificate accounts the following savings certificates which are available at financial plus credit union are automatically renewable.

Offer good for new or existing money. Minimum amount 10000 and maximum amount 100000 per social security number. Getting your money at the end of the term you agreed on called the maturity date you can withdraw your money without penalty.