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.
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
Share Certificate accounts benefits and features:
- Minimum deposit to open account and earn advertised 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 withdraw money from your certificate account before the completion of the term, you may incur an early withdrawal penalty.
The Annual Percentage Yield is current as of: MM/DD/YYYY
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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.
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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
- Partial withdrawals are allowed (penalties may apply)
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Is there a penalty for an early withdrawal on a certificate?
Yes. Making an early withdrawal on a certificate may incur penalties. 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 advertised 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 fee
- Partial withdrawals are allowed (penalties may apply)
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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.
Membership eligibility required. Subject to change without notice. Additional restrictions may apply. Minimum initial deposit and minimum balance is $1,000. Penalty for early withdrawal may reduce earnings.
APY means Annual Percentage Yield. The APY for certificates assumes dividends are added back to the certificate.
Federally Insured by NCUA. Equal Housing Lender.
