Generally, you cannot add money to a Certificate once it’s opened. However, UCCU offers a range of Certificate products, including “Add-On” options that allow additional deposits at the current “Add-on” rate. However, there may be additional limitations. It’s always best to discuss your needs with a UCCU expert to find the most suitable product.

Once your account is set up and money is deposited, your UCCU rate will stay the same for the duration of your certificate. There are options if the rate goes up, to add a Jump Up Rates for possible increases in your savings. Every member’s financial journey is unique. Our approach is tailored to meet your individual needs, whether you’re looking for a short-term investment like a 6-month CD or a long-term growth strategy. Our team of experts is always on hand to offer advice and help you make the best choices for your financial future.

Yes, at UCCU, our Certificates are NCUA insured, which means your investment is safe up to the maximum amount allowed by law.

The biggest difference comes in the timeframe required to have the account and the interest rate provided for the account.

• Fixed Timeframe:  When you open a savings certificate, you agree to keep your money deposited for a specific period of time, which can range from a few months to several years. This predetermined time frame ensures that your funds remain securely invested.  During this term, you are unable to withdraw the funds without incurring penalties. The length of the fixed timeframe plays a significant role in determining the interest rate you will earn. In general, longer terms offer higher interest rates, rewarding you for committing your funds for an extended period.
• Interest Rate: With your account secured for a fixed timeframe, the credit union offers a predetermined fixed interest rate that remains constant throughout the term.  This means that regardless of any changes in the market or national interest rates, your earnings remain stable and predictable. The fixed interest rate provides you with financial certainty and allows you to plan your savings growth effectively. Unlike some other savings accounts where interest rates may fluctuate, savings certificates provide stability and peace of mind.

Understanding the Benefits of a Savings Certificate Article goes into deeper details on why you should open an account rather than a traditional savings account. The main topics in the article include:

• What is a Savings Certificate?
• What is the difference between a Savings Certificate and a Certificate of Direct Deposit (CD)?
• What if I need to pull my money out early?
• How do I set up a Savings Certificate?
• What is a Jump Up Feature on a Savings Certificate?
• Are there other options outside of Savings Certificates?
• Where can I learn more?