Share Certificate Accounts
Share Certificate accounts earn higher yields than standard savings accounts for a set term.
Choose the Share Certificate account that’s right for you. With terms from six months to seven years, we offer the flexibility you need to meet your personal savings goals.
The Annual Percentage Yield is current as of: MM/DD/YYYY
APY means Annual Percentage Yield. The APY for certificates assumes dividends are added back to the certificate.
Membership eligibility required. Subject to change without notice. Additional restrictions may apply. Minimum initial deposit and minimum balance is $1,000. Early withdrawal penalties will be imposed for early withdrawal. SuperSaver 18-month Certificate is available for consumer accounts and does not apply to business accounts.
*Standard Certificate rate for 18 months does not apply to the 18-Month SuperSaver Certificate.
Share Certificate accounts benefits and features:
- Minimum deposit to open account and earn stated APY: $1,000
- Automatic renewal on maturity
- Higher dividends allow you to earn higher yields on your savings
- Dividends can be compounded or paid to RBFCU checking, savings or Money Market accounts
Early withdrawal
Certificates are a solid investment and the funds should stay in your account until the account matures or reaches the completion of the investment term. If you close your certificate account before the completion of the term, you may incur an early withdrawal penalty.
Is a Certificate the same as a CD?
Share Certificates and Certificates of Deposit, or CDs, are two names for similar long-term savings accounts, but there are some differences.
Credit unions, like RBFCU, may offer Share Certificates, which are dividend-bearing accounts. Savings placed in Share Certificates are equity investments, and the returns earned on these accounts are dividends. Because of NCUA Truth in Savings rules, you may also see credit unions call these accounts “Share Certificate Accounts,” “Certificate Accounts” or just “Certificates.”
Banks may offer CDs, which are interest-bearing accounts.
Risk-free investment
- Fixed rates throughout the term
- Insured up to $250,000 per member by the National Credit Union Administration (NCUA)
Earn higher dividends
Rates are dependent on the term length of your certificate.
- Rates increase with longer terms
Compounding
The dividend rate is calculated on your original amount invested plus the dividends that have accumulated.
- Compounds monthly when paid to certificate account
- Or, you have the option to have dividends paid to your RBFCU checking, savings or Money Market accounts instead
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What is a Share Certificate account?
A Share Certificate is a certificate issued by a credit union. It represents a deposit that is made for a certain period of time that earns specified dividends over that period. A Share Certificate is a term share account with a maturity of at least 6 months.
A $1,000 minimum is required to open a Share Certificate account and earn the stated APY.
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What are the benefits of a Share Certificate account?
- Automatic renewal on maturity
- Dividends paid monthly
- Dividends can be:
- Paid to an RBFCU savings, checking or Money Market account
- Compounded within the certificate
- Dividend rate locked in at purchase and through maturity
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Is there a penalty for an early withdrawal on an IRA certificate?
Yes. If funds are being withdrawn from an IRA certificate, IRS taxes and penalties may apply.
For more information, review the early withdrawal penalties in the Truth in Savings Account Disclosures.
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What is a SuperSaver Certificate?
The SuperSaver Certificate is an 18-month Share Certificate or an 18-month IRA certificate that is offered at a higher dividend rate than a regular Share Certificate.
Details:
- $1,000 balance limit required to open account and earn stated APY
- Dividends are paid monthly
- Dividends can be compounded back to the certificate or paid into an RBFCU savings, checking or Money Market account
- Higher dividend rate
- Dividend rate is locked in at purchase or maturity dates
- No limit to how many SuperSaver Certificates you can have
- No monthly service fees
SuperSaver 18-month Certificate is available for consumer accounts and does not apply to business accounts.
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Can a certificate or SuperSaver Certificate have joint owners?
Yes. Certificates and SuperSaver Certificates can have joint owners as long as all of the joint owners are members of RBFCU.
Rates and terms are subject to change without prior notice; other restrictions may apply. Fees could reduce the earnings on the account. Visit rbfcu.org/rates for the most current rate information, or call 1-800-580-3300.
