What is a Share Certificate?

A Share Certificate is a savings certificate available through credit unions that entitles the bearer to receive interest. Banks have a similar product called a Certificate of Deposit, or CD. A Share Certificate bears a maturity date, a specified fixed interest rate and can be issued in any denomination over the minimum required deposit.

When you open a Share Certificate, your money is on deposit for a specific time period. For agreeing to keep it on deposit for a specified time period, your funds earn more than they would in a regular savings account. If a Share Certificate is cashed in before its maturity date, a penalty is applied. Find out current rates.