At PSECU, we offer short- and long-term Personal Certificates as a safe and easy way to invest your money. With either option, your investment can grow in as little as three months or as many as 60... you choose the term.
- Fixed-Rate Certificates
- IRA Certificates
Open a CertificateIf you are already a PSECU member and would like to purchase Personal Certificates, you can open a Certificate online or contact the PSECU Call Center.
- For PSECU Call Center information including telephone numbers and hours of operation, Click Here!
PSECU Certificates and Shares, excluding IRAs, are federally insured by the National Credit Union Administration (NCUA) up to a total of $100,000 for any Certificate set up under the same ownership. This is the maximum amount allowed by law. The combined balances of your PSECU IRA Shares and IRA Certificates are federally insured up to $250,000 and are insured separately from other PSECU Personal Savings Shares and Certificates.
| Minimum Balance to Open: |
$500 |
| Minimum Balance to Earn Annual Percentage Yield: |
$500 |
| Rate: | Declared weekly. Fixed for term of Certificate. |
| Dividends*: | Day of deposit to the day of withdrawal. Dividends calculated on actual daily balances. Paid monthly into your Certificate, any share, or a dividend check mailed automatically to the address on record. Available dividends may be withdrawn any time without penalty and will reduce the earnings on the Certificate. $100 minimum withdrawal. Compounding of dividends monthly only if dividends paid to Certificate. Dividends must be paid directly into IRA Certificate. Any IRA Certificate withdrawal may be subject to IRS penalties. |
| Terms: | 3, 6, 9, 12, 18, 24, 36, 48 and 60 months |
| Maturity: | Certificate will automatically renew at the rate in effect at the time of maturity unless we are contacted on or before the maturity date. Upon renewal, the term will be the same as the original term. You have up to 10 calendar days after maturity to notify us if you wish to redeem without penalty. A Maturity Notice will be mailed approximately 10 days before maturity date. |
| Withdrawal Restrictions**: | Any early withdrawal will cause a forfeiture of 90 days of dividends on the principal amount withdrawn whether or not the account has earned an initial dividend. This penalty will be deducted from the Certificate and calculated at the annual rate of interest being paid on the Certificate. If the withdrawal plus penalty takes the Certificate below the minimum $500 balance, the Certificate will be closed and the penalty will now be calculated on the entire balance. All Certificate penalty withdrawals must be in writing. $100 minimum withdrawal. PSECU penalties will not be incurred on a withdrawal of earned dividends. IRA Certificates may be subject to IRS penalties. |
| Fees: | NONE |
| Overdraft: | Not Available |
| Additional Deposits: | Start or increase recurring deposits up to 30 days after Certificate is opened or renewed. Stop or decrease deposits at any time. Recurring deposits are made through automatic transfers only. Automatic Transfer must begin within 30 days after Certificate is opened or renewed. IRA recurring payments or transfer are for current calendar year only. If the transfer amount you selected is not available in your Automatic Transfer Share Account on the transfer date, only the available funds will be transferred. |
| * | The payment of dividends is based on the available current and undivided earnings of PSECU. The Annual Percentage Yield (APY) for a one year or less time deposit is based on the assumption that the funds will remain on deposit for a full year at the stated rate. The Annual Percentage Yield calculations are based on the assumption that the dividends remain on deposit for a full year (shares) or until maturity (Certificates). A withdrawal will reduce earnings. Regulations prohibit dividends in excess of available earnings. |
| ** | There is no PSECU penalty if the Regular Certificate has reached maturity; the certificate redemption is within the 10-day grace period; the certificate has earned dividends withdrawn; or the member dies and PSECU receives proper verification. |
There are no PSECU penalties on an IRA Certificate if a member has reached 59½ years of age; the certificate is within the seven-day revocation period; or there is a death of IRA owner. PSECU will also waive the penalty for early distribution for any purpose recognized by the IRS as a penalty-free distribution. Any IRA withdrawals may be subject to IRS penalties.
All information is subject to change at any time.