Certificate of Deposit (CD) & Share Certificate Rates
Certificates of Deposit
With a Share Certificate, you earn a higher dividend rate by committing to keep your funds on deposit for a set term.
We offer flexible Certificate terms ranging from 6 months to 60 months. A minimum of $1,000 is required to open a Certificate.
IRA Share Certificates are available as well.
Dividends are compounded quarterly and credited to your Certificate account quarterly. If you close your certificate account before maturity, you may be subject to an early withdrawal penalty.
*When applying, please fill in and sign the form and submit it to the credit union.
Maximize Your Returns with a CD Ladder Strategy
Looking for a way to balance higher yields with financial flexibility? Consider building a Share Certificate ladder. By dividing your initial investment across multiple certificates with staggered maturity dates (for example: 6, 12, and 24 months), you can take advantage of long-term, guaranteed returns while ensuring a portion of your funds becomes available regularly. It's a smart, risk-free savings strategy to build wealth without locking up all your liquid assets at once.
Frequently Asked Questions About Share Certificates
Are Share Certificates and CDs the same thing? Yes. While traditional banks offer Certificates of Deposit (CDs), credit unions like HEFCU offer Share Certificates. Both provide a fixed dividend rate for a set term and are federally insured. Your deposits at HEFCU are completely secure and backed by the NCUA up to $250,000, offering the exact same level of protection as FDIC insurance.
How do I fund my new Share Certificate? It's simple to get started once you meet the $1,000 minimum deposit requirement. You can easily transfer funds directly from your existing HEFCU Primary Savings Account or Checking Account.
Can I use a Share Certificate for my retirement savings? Absolutely. We offer dedicated IRA Share Certificates that allow you to combine the tax advantages of an Individual Retirement Account with the fixed-income security of a term certificate.
What happens when my Share Certificate reaches its maturity date? When your certificate matures, you will have a grace period to decide your next steps. You can withdraw the funds penalty-free, transfer the principal and earned compound interest to another account, or let it automatically renew for another term at the current Annual Percentage Yield (APY).
