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How Share Certificates Work

This tried-and-true savings account is more flexible than you think

See How It Works

What is a share certificate? 

You may have heard of a certificate of deposit, or CD. A share certificate is the credit union equivalent and works in much the same way. 

With both CDs and share certificates, you deposit a set amount of money for a fixed period, called the term. During that term, your money earns a fixed rate. Share certificates pay dividends, which are your share of the credit union's earnings, while CDs pay interest. 

When your certificate matures, you receive your original deposit plus the dividends you've earned during the term. 

Many people assume opening a share certificate means their money is completely locked away. While keeping your money in the certificate until maturity allows it to earn dividends for the full term, you can access it early if needed. An early withdrawal penalty may apply, but your money isn't permanently out of reach. 

How share certificate terms work 

A term is how long your money stays in the certificate, and can be anywhere from months to years. Choose the term and earn a fixed rate until it matures. 

What happens if I access it before it matures? 

You can withdraw your money before maturity, but an early withdrawal penalty may reduce your earnings and, in some circumstances, your principal. 

Make sure to review the terms and conditions, including any early withdrawal penalties, before opening a share certificate.

Understanding the Share Certificate Process

Review your term, rate, early withdrawal provisions and maturity options – then start saving!
Choose Your Term

Choose Your Term

Select the timeframe that fits your savings goals.
Know Your Rate

Know Your Rate

Your rate stays guaranteed for the entire term.
Understand Early Access

Understand Early Access

Access your money early if necessary, although a penalty may apply.
Plan for Maturity

Plan for Maturity

Depending on the terms, you may be able to renew, withdraw, or move the money into another account when the term ends.

Why Choose a Share Certificate?

Whether you’re saving for a vacation, college fund, or another short- or long-term goal, a share certificate is a powerful savings tool that offers higher returns than a regular savings account. With flexible terms, a low minimum deposit, and a guaranteed rate, share certificates provide predictable, steady growth you can count on.

Lock in your rate, earn dividends credited monthly, and choose the term that fits your savings timeline while enjoying the security of knowing exactly how much your money will earn.


Today’s Top Share Certificate Rates

6-Month Share Certificate
4.00%
APY*
9-Month Share Certificate
4.00%
APY*
12-Month Share Certificate
4.00%
APY*
Open a Share Certificate
Open a Share Certificate

Share Certificate FAQs

Can I add more money after the Share Certificate is opened?
You can add money to a 6-Month Share Certificate. For other terms, additional deposits aren’t allowed after opening. To keep saving, open a new certificate anytime.
How do I get started?
You can open a share certificate online, over the phone or by visiting a branch.
Are there any associated fees?
There are no monthly maintenance fees, but early withdrawal penalties may apply.
How is the APY calculated?
Dividends on share certificates are typically compounded daily or monthly and credited to the account monthly or quarterly. The method of calculation and frequency of compounding can vary by institution.
Are they insured?
Yes! Your deposits are federally insured up to $250,000, providing peace of mind while your savings grow.
What happens when it matures?
You can either withdraw your funds including earned dividends or roll them into a new certificate to continue growing your savings.
Can I withdraw money before it matures?
Early withdrawals are subject to penalties, so it’s best to choose a term that aligns with your financial goals.
What is the minimum deposit required to open?
A minimum deposit of $500 is required.
*Rates shown are Annual Percentage Yields (APY), accurate as of 06/29/2026, and subject to change without notice as determined by the Board of Directors. Rate advertised is for the 8-month certificate only. Term and rate available from June 29, 2026, through July 31, 2026, only. Minimum deposit of $500 is required. Penalty for early withdrawal. The APY is based on the assumption that dividends will remain on deposit until maturity. Withdrawal or fee will reduce earnings. Certificates are fixed-rate accounts and will remain in effect until maturity.  Must be a member of Service CU or establish membership with $5 in a Primary Savings Account.