There are so many financial options, and financial products from which to choose. Customers need information on which financial options are open to them and which bank or credit union to visit to find these options.
There are checking accounts, savings accounts, and money market accounts, to name only a few. But there are also savings share certificates.
Savings Share Certificates
Savings share certificates are savings, offered at credit unions, that are like CDs (certificates of deposit), which you will find at banks. Here are some benefits. Savings share certificates…
- offer good yields (at a higher rate than a traditional savings account),
- similar to bank CDs, a savings share certificate requires money deposited to mature in the account for a specified amount of time (early withdrawal will incur a penalty), and
- if you choose a certificate that requires more months to mature, you’ll earn a higher rate of savings.