It’s never too early - or too late - to start saving for your future. Or saving for something a short time away like the downpayment on a house, your kid’s college education, or anything else. A great way to grow your money is with a Term Share Certificate at WyHy. That’s certainly a long name for what most people simply call a certificate, but that’s exactly what a Share Certificate is - a certificate account.

And we all know what CDs are. They’ve been around for decades as one of the best ways to grow your money whether it’s for the short or long term. Certificates feature higher yields for a fixed period of time (the term) especially when you compare them to a basic savings account.

Here’s more about what a Term Share Certificate at WyHy offers you and your money.

• First, you decide the length of time you want to invest. This is called the term. If you are investing with a short-term goal, our Term Share Certificates come with terms as short as 6 months. Or, if you have a long-term goal, our 60-month option may be best for you. It’s entirely up to you and your needs.
• The term you pick (6 months up to 60 months) will determine the interest rate you will earn. Shorter terms normally come with lower rates but special offers often have short terms and higher rates.
• With a certificate, your money will be locked in at a guaranteed rate for the length of the term you selected. You can borrow against this investment but if you cash in the Term Share Certificate early, you can encounter a substantial penalty for this early withdrawal.
• The minimum opening balance for any WyHy Term Share Certificate is $500.
• The safety of your investment is also vital. At WyHy, all deposits including Term Share Certificates are federally insured by the NCUA for up to $250,000. IRA deposits at WyHy have an additional $250,000 in NCUA insurance coverage.

Those are the five basic features of a Term Share Certificate. This type of investment option gives you freedom from worry about the economy, protection from the volatility of the stock market and peace of mind knowing your money is working as hard as you are.

Secure & Guaranteed!

Share Certificates are recognized as a very safe investment option while offering a solid rate of return. Investing in stocks or bonds brings more volatility—if the markets go in the wrong direction, you could lose a significant sum of money. Share Certificate rates of return, on the other hand, are guaranteed. As long as you keep your money in the account for the entire term, you’ll get your initial investment back with interest, based on your APY rate.

Federally Insured

Certificates at WyHy are federally insured for up to $250,00 by NCUA, an agency of the federal government just like FDIC. If you keep your money in the account for the entire term, it won’t lose value. However, if you purchase a term share certificate or CD through a brokerage firm or third-party salesperson, you could be taking on more risk. Brokered CDs are usually not insured and may come with variable interest rates—meaning your interest and the initial investment will fluctuate based on what’s happening in the market. This comes with a lot more risk.

The Best Time To Invest In A Share Certificate? Right Now!

If you have money you don’t need immediate access to, right now is the perfect time to open a share certificate at WyHy. Putting funds into a share certificate means your money is both safe and working for you

It’s Easy To Get Started Earning More

WyHy has a number of share certificate term options for members, including special rates for a limited time! Visit WyHy.org to learn more or talk to one of our financial experts today!

We’re with you!