Do you have extra money you can keep on deposit for several months or years? You'll get a stronger, guaranteed rate of return when you open a Share Certificate.
Set up your Share Certificate based on your goals. If you're able to put away even more money, you can benefit from opening several Share Certificates that mature at different times, a strategy known as laddering. This way, you always have money available if you need it. When your Share Certificate matures, you choose to withdraw your money or keep it deposited for another full term.
You may know this type of account as a CD or Certificate of Deposit, as that is how banks refer to these accounts. As a credit union, however, we refer to these accounts as Share Certificates, because as a member-owner of Sharonview you are also a Shareholder in Sharonview. You technically earn dividends off of these share accounts, and not interest, like you would on a depository account at another institution.
*Annual Percentage Yield (APY) is accurate as of January 27, 2023. Rates are subject to change at any time without notice. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in your account for the Period. The average daily balance is calculated by adding the balance in your account for each day of the Period and dividing that figure by the number of days in the Period. For all accounts, the dividend period begins on the first calendar day of the month and ends on the last calendar day of the month; dividends are compounded daily and credited monthly. For Certificates, the APY assumes dividends remain in the account until maturity; a withdrawal will reduce earnings. Certificates will automatically renew at maturity after a grace period of 5 calendar days. Share/Savings rates may change at any time after the account is opened, based on the determination of the Credit Union’s Board of Directors. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. The APY set forth in this schedule are prospective rates and yields the Credit Union anticipates paying for the applicable dividend period. Dividends will not be paid if an account is closed before accrued dividends are credited. Fees may reduce earnings. The par value of a regular share in this credit union is $5. Refer to your Membership Agreement and Disclosures for complete terms and conditions.
*Penalties may apply for early withdrawal. Minimum deposit of $500 required.