Share Certificate of Deposits

Certificates of Deposit

When you invest in a Certificate of Deposit with SCU Credit Union, you’re choosing a savings tool that combines security and good returns. Plus, your deposits are 100% insured, meaning your money is always safe, no matter how much you save.

open a certificate of deposit

Guaranteed returns with a locked in rate

Lock in your rate to get the best value you can!

Safe and effective way to save

Earn competitive interest on deposits that are 100% insured, regardless of the amount

Build strong savings habits

Early withdrawal penalties deter spending impulses, helping you build long-term financial stability

Your money is 100% safe. 100% insured.

SCU Credit Union is insured by both the National Credit Union Association (NCUA) and Massachusetts Shared Insured Corporation (MSIC). Your money is 100% insured regardless of the amount at SCU Credit Union. MSIC provides Excess Share and Deposit Insurance to all members of SCU Credit Union automatically. The coverage is a benefit of membership and comes at no direct cost to you. MSIC insures the portion of any legal, verifiable share or deposit account that exceeds NCUSIF coverage with no limit.

man and woman saving money in piggy bank

Want the Best of Both Worlds? Consider CD Laddering

A certificate ladder involves opening multiple share certificates with different maturity dates, giving you access to some of your money at different intervals. This can help you avoid paying a penalty for accessing your money early. This is a strategy in which you invest in certificates of different terms and roll the money over into a new certificate or withdraw it after each one matures.

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Certificate of Deposit | Frequently Asked Questions

What is a Share Certificate of Deposit?

A Share Certificate of Deposit (CD) is a savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate and can be issued with minimum balance of $500. When you open a CD, your money is on deposit for a specific time period. For agreeing to keep it on deposit for a specified time period, you earn more than you would in a regular savings account. If you cash it in before its maturity date, you pay a penalty.

BLOG: CDs versus Share Certificates, is there a difference?
Are my deposits fully insured?

SCU Credit Union is insured by both the National Credit Union Association (NCUA) and Massachusetts Shared Insured Corporation (MSIC). Your money is 100% insured regardless of the amount at SCU Credit Union. MSIC provides Excess Share and Deposit Insurance to all members of SCU Credit Union automatically. The coverage is a benefit of membership and comes at no direct cost to you. MSIC insures the portion of any legal, verifiable share or deposit account that exceeds NCUSIF coverage with no limit.

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