What Is a Share Certificate and What Are the Benefits?

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Share certificate benefits

With interest rates rapidly increasing and ongoing inflation, it might be the perfect time to look into ways to increase your funds and build your savings. One convenient way might be a share certificate. What is a share certificate and what are the benefits? Let’s take a look.

What is a Share Certificate? 

A share certificate allows you to earn a much higher interest rate by agreeing to leave money in your credit union for a specified amount of time. Share certificates offer fixed-rate guaranteed growth, with no stocks to watch, and are a fully secured way to get the most from your money. Because you’re earning great interest rates, with a share certificate there are penalties on earnings for early withdrawal. The longer you keep your money in the account, the more it grows.

What are the Benefits of a Share Certificate? 

A share certificate offers a simple option to build your money. Simply pick the amount of time you’re willing to deposit your funds, and you’re on your way. ​​You receive a guaranteed, fixed-rate growth backed with federal insurance. Use a share certificate to diversify your investments or to save for a special event or purchase you’ve been dreaming of in the future. 

Some of the benefits of a share certificate with Camino include:

  • Greater dividends than regular savings
  • Fixed rates guaranteed for the length of the term
  • Terms from 6 months to 5 years
  • Rates increase with each longer-term
  • Federally insured up to $250,000 by NCUA

Don’t Miss out on Camino’s Share Certificate Spring Special 

Open your share certificate between now and June 1, 2022 to watch your savings rise with an 18-month or 11-month time deposit. It requires a minimum deposit of $2,500, up to $250,000 with money not presently on deposit with Camino. 

  • 18-month share certificates offer 1.25% APY
  • 11-month share certificates offer .75% APY

Saving for your future just got brighter with a Camino share certificate. Open the door to an abundance of opportunities and reach your savings goals faster. Enjoy above-market rates and favorable terms. 

Does a share certificate sound perfect to perk up your finances? Meet with a Camino Member Advisor today!

Let Camino help you with your financial journey and help you better understand the benefits of a share certificate and what it can do to help boost your finances. Camino offers a variety of ways to build your savings and financial future. Please go online at caminofcu.org, give us a call at 800-835-3400 to speak with one of our Member Advisors, or contact us for more information. We’re building bright financial futures through a combination of modern technology and community-aware service to our loyal members

We invite you to browse our member benefits to see the advantages of joining us as a Camino member. Contact us at (800) 835-3400 to speak with a Member Advisor today, or visit us online at caminofcu.org for more information on our offerings.