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3 minutes

What is a Certificate and How Do They Work?

Are you looking to invest your money but not sure what option is right for you? Consider a Certificate.
piggy bank and money
Certificates let you invest your money at a higher interest rate while ensuring your hard-earned cash is safe and secure.

A Share Certificate is quite simply a Certificate of Deposit (CD) issued by a credit union. The money you deposit will earn quarterly dividends at a higher interest rate. The only catch is your money must remain in your Certificate for a specified period of time. At WyHy, our Certificates range from terms of 6 months to 5 years.

There are many positive components to Certificates, oftentimes making them the wiser choice for members over other investment options.
  • Certificates offer competitive rates that are secured for the term of your Certificate, meaning your dividend interest rates will stay the same the entire time!
  • Certificates are insured by the NCUA’s National Credit Union Share Insurance Fund**, meaning your money is safe and secure.
  • When your Certificate term is up, you can simply cash in the money, change the terms of the Certificate or renew it!

Interested in a Certificate?

WyHy has some great options!

We're with you!

**APY=Annual Percentage Yield. 
**Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000. Additionally, a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund also separately protects members’ IRA and KEOGH retirement accounts up to $250,000 and provides additional coverage for members’ trust accounts. The Share Insurance Fund has the backing of the full faith and credit of the United States. Credit union members have never lost even a penny of insured savings at a federally insured credit union.