Skip to main content

3 Great Benefits of a Share Certificate

​What is a Share Certificate?

Are you wondering what to do with your extra savings? You might consider checking out share certificates. A share certificate is similar to a certificate of deposit (CD), but it is issued by a credit union, rather than a bank. Like a CD, a share certificate often pays a higher rate of return than a regular savings account, making it a reliable way to grow your money. Still wondering if a share certificate is right for you? Here are three great benefits you can expect when you open a share certificate from a credit union:​

​Benefits of a Share Certificate

1. Flexible term options

When you open a share certificate from your credit union, you get to select a term that fits your financial goals. If you expect you will need to access money sooner rather than later, choose a shorter term that fits your time frame. The longer the term of the share certificate, the higher the rate of return and the more you will earn throughout the term.

2. Low initial opening balance

Share certificates do require a minimum savings deposit to open, but depending on the credit union, this amount could be as low as $500. Of course, the more you invest, the better your financial return will be. If you have extra funds that you don't need to touch for a while, opening a share certificate can be a smart way to give your long-term savings goals a boost.

3. Risk-free investing

Investing your hard-earned money can be risky. However, share certificates are widely considered one of the safest investments to make. Unlike stocks, share certificates offer a fixed rate throughout the term. There are no unknowns when you invest in a share certificate; you'll earn the same rate no matter what the market does. With a guaranteed rate of return, you won't risk losing the money you invest and you can keep (or reinvest) the dividends you earn through share certificates.​

Certificate Rates​​

With flexible terms and great rates, a Share Certificate from Wright-Patt Credit Union can help you turn your financial goals into reality. Deposit a minimum of $500 for a fixed length of time, ranging from 6 to 72 months, and start earning dividends in the time frame that works best for your goals. On average, our members earn $116 more per year* by choosing Wright-Patt Credit Union for their Share Certificate.

Save b​​etter with a Share Certificate from Wright-Patt Credit Union. To learn more, visit one of our convenient Member Centers.​​

*According to September 2018 CUNA Membership Benefits Report when compared to Ohio banking institutions on 1-year, $10,000 share certificate.