- Home
- Meet the Team
- Log In
- Contact
- Careers
- Search
- Search Results
- Branches & ATMs
- Rates
- Log In
- About MCU
- Join MCU
- Personal Banking
- Lending
- Credit Cards
- Lending Services
- Insurance
- Member Resources
- MCU Financials
- Forms and Disclosures
- Privacy Policy
- Automated Telephone Banking
- Order New Checks
- Privacy Notice
- Schedule an Appointment
Share Certificate
A share certificate at a credit union represents ownership of a deposited amount for a fixed term, earning interest.
More Details
A share certificate at a credit union is a document that represents ownership of a specific amount of money that has been deposited with the credit union for a fixed term. These deposits earn interest over the term of the certificate.
Example
As a credit union member, you might choose to open a share certificate account, which is similar to a Certificate of Deposit (CD). Share certificates generally offer a higher interest rate than regular savings accounts, and they have the added security of being FDIC-insured (up to the maximum insurance limit). When you open a share certificate at a credit union, you'll need to choose the term of the certificate and the amount you'd like to deposit. You'll then receive a share certificate as proof of your ownership, which you can hold onto for the duration of the term. When the certificate matures, you'll have the option to withdraw your money or renew the certificate for another term.
Related Terms
Available Credit
The amount of credit currently accessible on a credit card or line of credit. It is the amount that can be borrowed and used for transactions.
Insufficient Funds
A situation in which an individual or institution does not have enough money in their account to cover a transaction or withdrawal.
Asset
A resource owned by an individual or organization that has economic value, such as cash, investments, and property.