A Share Certificate, the Credit Union version of a CD, is a savings certificate entitling the bearer to receive dividends. A Certificate bears a maturity date, a specified fixed interest rate and can be issued in any denomination (minimums apply). When you open a Certificate, 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 may pay a penalty.
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