Certificate Accounts

A share certificate is similar to a certificate of deposit (CD), but is issued by a credit union, rather than a bank. You deposit a certain amount and cannot withdraw the funds during the pre-selected length of the term without penalty. At OUCU, you'll never lose principal (your original certificate amount) should you need the money early.

Certificates are a good savings option because they typically earn higher rates than savings accounts.

Laddering can be a smart way to protect your future earnings. It means dividing your savings across several share certificates with different term lengths.

Here’s an example of how it works:

• Divide your funds into 5 certificates.

• Each matures in 1, 2, 3, 4, and 5 years.

• Your money becomes available each year as certificates mature.

• Jumbo certificate rates start at $25,000!

Why ladder the terms?

• Lock in higher long-term rates

• Annual access to funds

• Steady growth

• Peace of mind if rates drop

If you have a certificate coming due soon, let’s talk. We’ll help you build a laddering strategy that fits your goals.

Yes, you can access your funds early, but an early withdrawal may be subject to a penalty. The penalty amount depends on the term of your Certificate. Contact OUCU for specific details before making a withdrawal.

No, additional deposits cannot be made to a share certificate after it is opened. To continue growing your savings, consider opening another certificate or using a regular savings account alongside your certificate.

When your share certificate reaches maturity, you have several options: you can withdraw your funds, renew your certificate for another term, or transfer the balance to another OUCU account. OUCU will notify you before maturity so you can choose the best option for your savings.

$500

Yes! OUCU members can open multiple share certificates to meet different savings goals or take advantage of varying term lengths and rates.

If you don’t take action at maturity, your OUCU share certificate will typically renew automatically for the same term at the current dividend rate. OUCU will notify you before maturity so you can make any changes if desired.