Share Certificates in Vermont

With terms ranging from 6 to 60 months, and we only require a $500 minimum deposit to open. Penalties may apply for early withdrawal.

If you want safety, higher yield, and an interest rate that is locked in for a specified length of time, you’ll find our Share Certificates to be the right account for you.

Our 18-Month No-Penalty Certificate allows you a one-time withdrawal with no penalty.

Our Smart Savers Certificate has a 12-month term that can be opened with only $50.00 and allows you to make deposits over the term of the certificate.

Share Certificate (CD)

A Base Shares, Youth Savings, or Business Account is required to open a Share Certificate.

Features

  • $500 minimum balance on all non-special Share Certificate products (exceptions may apply).
  • Dividends are paid monthly in one of the following ways:
    • Rolled (compounded) into the certificate
    • Deposited into another account at 802CU
    • Check (mailed to your address on file)
  • Funds can only be deposited into a Share Certificate at account opening or during the 14-day grace period after maturity date. Smart Savers and Youth Savers (special certificates) allow additional deposits throughout the certificates’ term.
  • Withdrawals taken before a certificate’s maturity date will incur a penalty.
    • 9-day dividend penalty on Smart Savers and all certificates up to 35 months
    • 180-day dividend penalty on Youth Savers and certificates with terms of 36 months or more.
  • At maturity, a certificate will automatically default to roll over (renew) at the same term at the current interest rate. Special certificates generally do not renew at the same term.
  • Certificate maturity notices are mailed one month before a certificate’s maturity date, giving you the option to add funds, withdraw funds, charge the term, or close out the certificate at maturity. No response to a certificate maturity notice will result in an automatic renewal at current term (if not a special certificate).

Benefits

Deposit Products

  • Promotes long-term savings with a higher rate of return than our Base Share, Business, and Youth Share account products
  • Ideal for members with larger sums of money sitting in a non-interest-bearing checking account

Smart Savers Certificate

A Base Shares or Business account is required to open a Smart Savers Special Certificate.

Features

  • $50 minimum balance; $10,000 maximum balance.
  • One Smart Savers Certificate is allowed per member.
  • 1-year (12-month) term.
  • Higher annual percentage yield (APY) than our Base Shares and Business accounts (see current rates).
  • Dividends paid monthly.
  • Statements (paper or electronic) are generated monthly.
    • Can be combined with all other 802CU accounts into one monthly statement.
  • Unlike traditional certificates, the Smart Savers Certificate allows additional deposits throughout the term of the CD.
  • 180-day dividend penalty charged for early withdrawal.

Benefits

Automatic deposits (from an 802CU or an external account) into the certificate can be set up on a weekly, biweekly, or monthly basis.

Ideal for those members with poor spending habits looking to save money. There is no Online Banking or ATM withdrawal. The certificate discourages early withdrawals with an early withdrawal penalty.

 

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Join 802 Credit Union today to unlock personal financial services designed to help your money grow faster and go further. From fee-free checking to flexible savings options, membership offers a lifetime of benefits.

 

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Already a Member?

As a member of 802CU, you’re already set to unlock more financial opportunities. Apply for your Share Certificate today in our Online Banking portal and continue maximizing your financial potential with competitive products and personalized service.

 

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