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A certificate requires a minimum balance, ranging from $500 to $10,000. Certificates usually have a potential for higher dividend earnings, with rate tiers increasing with balances and term lengths. Terms offered range from 6 months to 6 years. A withdrawal before the certificate matures will reduce earnings. If you won’t need to access your money for a period of time, a certificate may be a good choice.

Certificate dividends can be:

Terms of 1 year or less:
Early withdrawal penalty is 90 days' dividends or all dividends earned, whichever is less.

Terms greater than 1 year:
Early withdrawal penalty is 180 days' dividends or all dividends earned, whichever is less.

Grace Period:
There is a 10 calendar day grace period after a certificate matures to redeem or make changes with no penalty.

Automatic Renewal:
A maturity notice will be sent shortly before the certificate matures. If no action is taken, the certificate will automatically be renewed at the dividend rate in effect on the renewal date. Automatic renewal does not apply to certificate specials, if available.

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