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Graphic of money growing like a plant in a pot with a purple background.
Graphic of money growing like a plant in a pot with a purple background.
Graphic of money growing like a plant in a pot with a purple background.
published january 25, 2023

It might be the right move for your money.

You may be seeing more and more financial institutions offering certificate specials and wondering what they are. We've got you covered. 

Savings accounts are great places to put your money for shorter term savings goals and if you need to dip into those funds for something unexpected.

When it comes to long-term savings for things further down the road, like retirement, investment accounts are a good option.

What about middle-term savings? You know, the goals that are maybe more than a year away, but probably no more than five.  The answer: certificates.

Not only are they a secure option, but you’re also guaranteed to see growth and a return on the money you put away. That’s right, your money will be working to earn you more.

What is a certificate?

Certificates are a type of safe and insured account that allow members to earn dividends on an initial deposit by agreeing to leave it untouched for a set amount of time. They’re available for both personal and business members.

That means you decide how much money you want to put into an account and for how long. Then, you get the rate offered for that combination and it’s locked in for that set amount of time. Over time, you’ll earn dividends back on the money you deposited.1

Certificates are insured by the NCUA.

You can find STCU certificate rates and information here.

What is select certificate?

It’s an STCU certificate promotion or special that is only offered for a limited time.

Select certificates offer more when compared to standard certificates. They have a unique and specific APY* and amount of time (term) you’ll be setting money aside for.

They are a safe place to let money grow because you’re guaranteed a return.

Just because they’re not offered all the time, doesn’t mean once it’s gone or there’s a new offer, the one you opened will change. You will stay locked in at the rate you opened it with.

Select certificates are insured by the NCUA.

How to know if a select certificate is right for you.

A select certificate is a great place to put funds you know you won’t need to touch for a set amount of time. From there, you’ll see that money earn you dividends.

What happens when the certificate reaches maturity?

You get to decide what happens next. At maturity, there is a 10-day grace period to renew, withdraw, transfer, or modify the certificate. Heads-up, upon maturity the default setting is to auto renew, specific details are provided in the renewal notice.2

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1Minimum opening deposit varies. View all certificate rates and terms.

*APY = Annual Percentage Yield. The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all STCU certificates, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect while the balance of your account remains in an applicable balance range or for the term of the account, whichever is less. Once a balance range is met, the Dividend Rate and Annual Percentage Yield for that range will apply to the entire balance in your account while your balance remains in that balance range. The Annual Percentage Yield is based on an assumption that dividends remain on deposit until maturity. A withdrawal will reduce earnings, as will any request to delay the crediting of dividends. For a Bump Rate Certificate, you may elect to bump up (increase) the Dividend Rate and Annual Percentage Yield once during the term of the Certificate to the Dividend Rate and Annual Percentage Yield currently offered by STCU on the date of your election.