If you're seeking a safe, steady way to grow your savings, a Share Certificate from Landings Credit Union could be the perfect fit. With competitive rates and flexible term options, you can earn more than a traditional savings account—without the risks of the stock market.
What is a Share Certificate?
A Share Certificate is a type of savings account that earns a fixed dividend rate over a set term. Unlike regular savings accounts, these funds must remain untouched during the certificate's term, which can range from 6 months to 5 years. At the end of the term (the maturity date), you receive your original deposit along with the dividends earned.
Why Choose a Share Certificate Over a Traditional Savings Account?
While both savings accounts and Share Certificates help your money grow, Share Certificates offer unique advantages:
- Higher dividend rates than regular savings accounts.
- Predictable growth—your rate is locked in.
- Built-in savings discipline—no easy access means less temptation to spend.
What Makes Share Certificates a Safe Choice?
- Federally insured: Your deposits are protected up to $250,000 by the National Credit Union Administration (NCUA).
- No market risk: Your rate won’t fluctuate with the market, providing consistent returns.
- Guaranteed returns: As long as you hold your certificate through the full term, you’ll earn exactly what was promised.
Key Features of Landings CU Share Certificates:
- Higher earnings than a Prime Share account
- Open with as little as $500
- Terms available: 6 months to 5 years
- Step-Up Certificates: Available in 3- or 5-year terms with increasing rates
- Dividends can compound or be deposited monthly into your checking or savings
Things to Consider Before Opening a Share Certificate:
- Term commitment: Make sure you won’t need access to the funds during the certificate’s term. Withdrawing early may incur a penalty.
- Interest rate vs. inflation: A longer-term certificate may be less beneficial if inflation outpaces your fixed rate.
- Laddering strategy: Consider opening multiple certificates with different maturity dates to maintain flexibility and optimize your returns.
Is a Share Certificate Right for You?
A Share Certificate is ideal if:
- You have savings you don’t need to access immediately.
- You want to earn more than a standard savings account offers.
- You’re looking for a safe, low-risk way to grow your money.
If you value steady growth and predictability in your financial plan, explore Landings CU’s Share Certificate options today.