SHARED CERTIFICATES
Share Certificates at POE FCU are a type of fixed-term savings account offered to credit union members.
They’re the credit-union equivalent of a bank’s Certificate of Deposit (CD) — you deposit money for a specific period and in return earn a higher dividend rate (interest) than you would with a regular savings account.
Share Certificates from POE FCU are an excellent investment opportunity if you do not need immediate access to your funds and want to invest for longer periods to obtain high rates of return. There is a minimum opening deposit of $1,000.00.
- Higher earnings: Fixed dividend rates that are typically higher than standard savings accounts.
- Fixed term: You agree to keep your funds untouched for a set period (the term).
- Penalty for early withdrawal: If you take your money out before the certificate matures, a penalty may apply (this is standard with most certificates).
- NCUA insurance: Funds in Share Certificates are federally insured by the National Credit Union Administration up to applicable limits (similar to FDIC insurance at banks).
- 6 Months
- 1 Year
- 2 Years
- 5 Years
For more information, visit one of POE Federal Credit Union’s branches or contact a savings account specialist to get started on your Share Certificate savings account today.