After you’ve started to save up some money, you’ll likely consider the many options for generating interest on your savings. Maybe you’re fortunate enough to have your emergency reserve fully funded, and you have extra money that you don’t want locked away in a long-term investment account. Share certificates earn higher yields than even the best savings accounts and are a great option if you are looking for a high-yield, short-term place to grow your money and secure funds for a large future purchase.
What is a share certificate?
A share certificate is an insured savings account that requires a set deposit for a set period of time, commonly referred to as a “term.” Unlike a traditional savings account, you cannot make withdrawals without penalty. Instead, your money is returned to you with interest after the predetermined period of time — as short as a few months and up to five years or more. The funds in these accounts will grow with a dividend rate that is generally higher than those of typical share savings accounts, and even some money market accounts, too. And because the interest rate is fixed, you can anticipate exactly how much money you will make over time.
333 Ravenswood Ave
Menlo Park, CA 94025-3493
P.O. Box 2284
Menlo Park, CA 94026-2284
Routing Number: 321173328
All deposits are insured by the NCUA to at least $250,000.