If you’re looking for a safe way to grow your savings, a share certificate from Freedom Credit Union might be the perfect option. Share certificates work similarly to certificates of deposit (CDs) at banks, providing a guaranteed return on your money over a fixed period, making them a reliable choice for those who want to save with minimal risk.
How Do Share Certificates Work?
When you open a share certificate with Freedom Credit Union, you agree to deposit a specific amount of money for a set term—typically ranging from a few months to several years. In return, we pay you a fixed dividend rate that is usually higher than what you’d earn in a regular savings account. The longer the term, the higher the rate tends to be.
Benefits of a Share Certificate
- Guaranteed Growth – Your money earns a fixed dividend rate, so you know exactly how much you’ll have at the end of the term.
- Higher Dividend Rates – Share certificates often offer better returns than traditional savings accounts.
- Federally Insured – Freedom Credit Union share certificates are insured up to $250,000 by the National Credit Union Administration (NCUA), keeping your money safe.
Things to Consider
- Early Withdrawal Penalties – If you need access to your money before the term ends, you may face a penalty.
- Locked-in Rates – While your rate is guaranteed, you won’t benefit from potential rate increases during your term.
A share certificate from Freedom Credit Union is a great way to build your savings with security and predictability. If you’re ready to put your money to work, check with us to find the best rates and terms that fit your financial goals!
What are you waiting for? Open a Share Certificate today!
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