How is a credit union share certificate like a bank certificate of deposit (CD)?
Both are savings accounts designed for longer-term deposits. You deposit a sum of money and agree to leave it untouched for a fixed period (usually ranging from a few months to several years). In exchange for your commitment, you earn a higher return compared to a regular savings account. Other similarities include that both types of accounts are federally insured and withdrawing your money early usually incurs a penalty that would reduce the amount you earn.
Can I take my money out of a credit union Share Certificate?
The money that you place in your Share Certificate is still yours. If you pull your money out of your Share Certificate before the term is complete, the only thing you lose is the dividends that you have earned since you opened this account.
What do I do when the Share Certificate term ends?
When you set up your Share Certificate, be sure to discuss your plan with your Transcend CU account specialist. You will be able to choose to have your funds drop into your savings or other account at the end of the certificate’s term, roll into the same term certificate, or roll in into a Share Certificate with a new term.
What is the best length of time to put money in a Share Certificate?
At Transcend CU, we understand that your money must work for you every day. We offer Share Certificates that are as brief as 90 days, all the way up to 60 months. So, what is the best term? The one that best matches the length of time that you are unlikely to need that specific investment. Another thing to consider is the interest rate that matches with each term. Generally, as the term increases, so does the interest rate that applies to it.
But the best idea in Share Certificates? Ladders! If you are looking for a way to grow your dividends without having all of your money tied up for a long term, you can open several Share Certificate accounts, each with part of your investment, and each with a different term. As the shortest-term account matures, roll the balance into a long-term account. As each certificate matures, you can choose to either take it out or rollover into another Share Certificate. You will be earning great interest rates, and you will have access to your funds on a rolling basis.
You don’t have to use a bank CD to earn more. Open a credit union certificate account at one of our branch locations today.
*APY = Annual Percentage Yield. APY effective 7/22/2026. APYs for Share Certificate Accounts, including the Jumbo Share Certificates, are fixed at account opening and remain in effect until maturity. The APY for the Regular Savings Account is variable and subject to change after account opening. All terms and conditions are subject to change without notice.
Share Certificate Accounts (Excluding Jumbo Share Certificates): Minimum opening deposit $500. Share Certificates are subject to an early withdrawal penalty. Fees may reduce earnings. At maturity, the certificate will close and funds will be transferred to the member's Regular Savings Account. The Regular Savings Account will earn the APY in effect for that account at the time of transfer.
Jumbo Share Certificates: Minimum opening deposit $200,000. Minimum balance of $200,000 is required to earn the disclosed APY. Funds deposited must be new money. New money is defined as funds not currently on deposit with Transcend Credit Union and not withdrawn from any Transcend Credit Union account within the 30 days preceding the certificate opening date. This share certificate is subject to an early withdrawal penalty. Fees may reduce earnings. At maturity, the certificate will close and funds will be transferred to the member's Regular Savings Account. The Regular Savings Account will earn the APY in effect for that account at the time of transfer.
