Certificates
Our members have access to a safe and easy way to invest their money. Whether you're looking for a short- or long-term investment, we have a certificate that will help you reach your financial goals. Our certificates are federally insured by the NCUA.
Benefits of Opening a Certificate at PSECU
A credit union certificate is the equivalent of a bank Certificate of Deposit (CD). It's a smart option if you don't need instant access to your money and want to earn higher dividends (interest) on your money than you can with a savings account. A certificate's fixed rate of return makes it easier to estimate your money's growth. Your certificates are federally insured by the National Credit Union Administration (NCUA) up to $250,0001.
Open with as little as $5002. You'll accrue dividends for a set period of time, or “term.” When your term is up, you can withdraw your money and earnings. Otherwise, you can renew your certificate at current rates.
Let's Get Started
How to Open a Certificate
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To open a certificate, you must be a member of PSECU. Members should follow these steps:
- Log into digital banking.
- Click on the menu.
- Select Add a Product and then Certificate.
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To open a certificate, you must be a member of PSECU. Here’s how non-members can open a certificate:
- Open a PSECU account.
- During the application process, select the option to add a certificate to your account. You can fund your certificate directly during the application process.
- Once you’ve completed these steps and your membership was approved, your certificate will be active.
- Enroll in digital banking to easily manage your certificate.
Promotional Rate Certificate
| Description | APY** | Dividend Rate |
|---|---|---|
| 15 months | 4.05% | 3.98% |
**APY denotes Annual Percentage Yield.
Promotional certificates are subject to change at any time without notice. This rate will be paid until the promotional certificate matures. Your promotional certificate will automatically renew at maturity; however, because it is a promotional certificate, it may automatically renew for a different term. It will automatically renew at the next lowest non-promotional term. Your promotional certificate will automatically renew at the rate in effect for the next lowest non-promotional term at the time of maturity unless we are contacted on or before the maturity date. You have 10 calendar days after maturity to redeem your promotional certificate without penalty if you do not want to renew. If you have not contacted PSECU by the maturity date, the promotional certificate will renew for the rate in effect for the next lowest non-promotional term on the date of maturity. A penalty will be imposed for early withdrawal. A minimum daily balance of $500 must be maintained in order to earn the disclosed Annual Percentage Yield (APY).
FAQs
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A certificate is a savings account that typically offers a higher interest rate than a traditional savings account. The interest rate is fixed for the duration of the term. The term is how long the certificate is open, which you’ll decide when you open the account. Terms typically range from as short as three months and as long as 60 months (five years). You must maintain a minimum daily balance of $500 in order to earn the disclosed Annual Percentage Yield (APR). If you withdraw funds before the maturity, a penalty will be imposed.
Learn More About Certificates -
When you open a certificate, you're prompted to select a maturity option for your funds. You can choose for your certificate to automatically renew for the same term, for the funds to be sent via check to your account's address, or for your funds to be transferred to one of your PSECU shares. The option you choose upon opening a certificate will determine what happens to the funds upon maturity. If you'd like to make a change, you can do so in online or mobile banking, send us a secure message in online banking, or call us at 800.237.7328.
Review Your Maturity Options
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*APY denotes Annual Percentage Yield.
1All PSECU deposit shares, including checking, Regular, additional savings, money market and certificates, are federally insured by the National Credit Union Administration (NCUA) up to $250,000, the maximum allowed by law. In addition to the $250,000 of insurance provided on an individual account or combination of individual accounts, you are also insured up to $250,000 for any combination of accounts you may hold jointly with other individuals.
2If your withdrawal plus penalty takes the certificate below the required minimum $500 balance, your certificate will be closed and the penalty will be calculated on the entire balance.