Certificates
A certificate account, similar to a Certificate of Deposit (CD) offered by banks, is a beneficial way to invest your money with minimal risk. By opening a certificate account, you can enjoy guaranteed rates of return on your investment while having the assurance that your funds are federally insured. The National Credit Union Administration (NCUA) insures these accounts up to $250,000, providing an added layer of security for your savings. Most certificate accounts require a minimum investment of only $500, making them accessible for a broad range of investors.
When you open a certificate account, you choose the term length, such as a 6-month or 12-month period up to 5 years, and agree to leave your funds in the account for the entirety of that term. In return, you earn dividends at a specified annual percentage yield (APY) for the chosen term.
One of the advantages of certificate accounts (CD) is their high dividend rates, which can significantly aid in building emergency funds. These accounts are designed to be low-risk investment options due to their fixed rates and insured status. Moreover, the fixed-term nature of certificates means that the funds are inaccessible during that period, reducing the temptation to spend and helping you achieve long-term savings goals. It is generally advised to have an emergency fund covering 3-6 months of living expenses, and a certificate account can be an effective tool in reaching that target.
In addition to certificate accounts, other savings solutions are available to fit individual strategies. A High-Yield Money Market Account, for instance, provides access to your funds. This offers flexibility while still allowing your savings to grow. Furthermore, True Sky Federal Credit Union provides professional financial services, and options such as safe deposit boxes are available for the secure storage of valuables.
For those interested in opening a certificate account (CD), visiting a branch or contacting a financial representative can provide detailed information and guidance. Each individual’s financial situation is unique, and consulting with a professional can help tailor a savings strategy that meets your needs and helps you achieve your financial objectives. Please see our rates below.
Interested in opening a certificate account? Visit a branch near you or contact us at 405-682-1990.
Certificate Rates At True Sky Federal Credit Union
| | Balance Requirement | Dividend Rate | APY |
|---|---|---|---|
| 90 Days SCA | $1,000 | 1.29% | 1.30% |
| 6 Month SCA | $1,000 | 1.65% | 1.66% |
| 7-12 Month SCA | $1,000 | 1.84% | 1.86% |
| 13-23 Month SCA | $500 | 2.04% | 2.06% |
| 24-35 Month SCA | $500 | 1.99% | 2.01% |
| 36-47 Month SCA | $500 | 2.09% | 2.11% |
| 48-59 Month SCA | $500 | 2.09% | 2.11% |
| 5 year SCA | $500 | 2.30% | 2.33% |
The rates above are the current best Share Certificate rates at True Sky Federal Credit Union. Although we make every effort to keep the Share Certificate rates we post on our website current, these rates are subject to change. Contact a True Sky Federal Credit Union advisor to confirm all Share Certificate rates before opening a Share Certificate account.
