Understanding Share Certificates
What is a Share Certificate?
A share certificate is a type of investment where you deposit money for a specific term and earn interest. Share certificates have fixed interest rates, and the terms. They are different from savings accounts in one important way. With a savings account, you can make withdrawals anytime you like. With a share certificate, however, you will be assessed an early withdrawal penalty if you withdraw money before the end of the term (the maturity date). Share certificates also offer the benefits that come with credit union membership.
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Benefits of Share Certificates
- Safe Investments: Share certificates are backed by the National Credit Union Administration (NCUA) for up to $250,000, ensuring the safety of your principal.
- Guaranteed Returns: With fixed interest rates, your return is guaranteed, providing peace of mind and predictable earnings.
- Higher Interest Rates: Share certificates usually offer higher interest rates than savings accounts and money market accounts, making them ideal for long-term savings.
- No Monthly Maintenance Fees: Unlike some savings accounts, share certificates typically do not have monthly maintenance fees, allowing you to keep all of the interest you earn.
Why Choose a Credit Union for Share Certificates?
Credit unions like Cabrillo Credit Union in San Diego, offer excellent customer service, lower fees, and higher interest rates compared to banks. Additionally, your money is insured for up to $250,000 by the NCUA.
When to Consider a Share Certificate
A share certificate may be a good option when you're seeking a high-interest investment and don't anticipate needing to withdraw your funds before the maturity date. It's ideal for long-term savings goals.
Grow Your Savings Account!
Let Cabrillo Credit Union help you find the best credit union cd rates in San Diego. Our Share Certificates are the perfect way to earn more on your savings.
Our 6-Month and 12-Month Share Certificates offer competitive rates of as high as 4.59% APY*, helping you get the most out of your savings.
With our Share Certificates, you can start earning more interest right away!
($2,000 - $9,999)
| Term |
Rate |
APY |
| 6 months |
4.00% |
4.07% |
| 12 months |
4.50% |
4.59% |
($10,000 - $49,999)
| Term |
Rate |
APY |
| 6 months |
4.00% |
4.07% |
| 12 months |
4.50% |
4.59% |
($50,000+)
| Term |
Rate |
APY |
| 6 months |
4.50% |
4.59% |
| 12 months |
4.50% |
4.59% |
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*Annual Percentage Yield (APY) is accurate as of 07/26/2023. A penalty may be imposed for early withdrawals. Early withdrawals and fees may reduce earnings. Terms and conditions disclosures available at account opening. Minimum deposit of $2,000.00 required to open an account and obtain APY. Offer may be withdrawn at any time and rates are subject to change without notice. Federally insured up to $250,000 by NCUA.