Low minimums, guaranteed returns.
A GECU certificate offers area-leading rates helping you build an optimal savings plan. With a variety of terms available, you can begin earning with as low as $500. Certificates give you a fixed-rate return making them a safe, risk-free option to help achieve your savings goals.
A certificate includes:
See how our rates compare.
Standard Certificate Rates
|6 - Month Certificate||$500||.49%||.50%|
|1 - Year Certificate||$500||.74%||.75%|
|2 - Year Certificate||$500||.89%||.90%|
|3 - Year Certificate||$500||.99%||1.00%|
|5 - Year Certificate||$500||1.24%||1.25%|
|1 - Year Jumbo Certificate||$100,000||.79%||.80%|
|2 - Year Jumbo Certificate||$100,000||.94%||.95%|
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What is a certificate?
Certificates are fixed-term accounts, so the initial deposit amount and rate of return remain constant until maturity. The maturity of a certificate is based on the term, for example: a 1-year certificate would mature one year from the date opened. The dividend rate and annual percentage yield (APY) will not change for the term of the account. Dividends will be calculated daily and credited to the account monthly.
How is a certificate different from a bank CD?
They are the same, but the terminology is different. For regulatory reasons, Credit Unions offer certificates and banks offer CDs (Certificates of Deposit).
Can you explain laddering?
Laddering occurs when you open multiple certificates and stagger out the maturity dates; this way you’ll have access to funds at various times of the year. One way to achieve this is opening three (3) certificates at one time with terms of 1-year, 18-month, and 2-year certificate. After the first year, you’ll have funds from the certificates available to withdraw or reinvest every six (6) months.
What happens at maturity?
Certificates automatically roll over on the maturity date to a new certificate, with the same term, at the prevailing rate. You’ll be notified by mail one (1) month before maturity and have 10 days from the maturity date to withdraw or transfer the funds with no penalty. A certificate addendum is mailed after a certificate rolls over.
How are dividends calculated and paid?
We use the daily balance method to calculate the dividends; dividends will be calculated daily and credited to the account monthly.
Do you offer different types of certificates?
Yes, we offer standard Certificates, IRA Certificates, and HSA Certificates.
Is there a penalty to withdrawal from the certificate?
It depends. You may withdraw dividends earned at any time with no penalty; however, there is a penalty for withdrawing the principal prior to maturity.
How is the penalty calculated?
The penalty is based on the principal penalized which doesn’t include dividends earned. Principal penalized equals the withdrawal amount minus any accrued dividends. You’ll be penalized 90 days of interest on terms less than 18 months and 180 days of interest for terms 18 months or higher.
Can I lose principal due to the penalty?
Yes, if you withdraw funds prior to earning either 90 or 180 days (depending on the term of the certificate) of the interest.
Can I change my certificate to a different term upon maturity?
Yes, you can change the certificate term that your existing certificate will roll into anytime in advance of the maturity date; it will take effect on the maturity date.
What are the requirements to open a certificate? Is there a minimum deposit?
To open a certificate, you must first establish eligibility
and become a member. Our certificates typically have a minimum $500 deposit, though we may at times offer specials with different minimums. We also offer jumbo certificates with $100,000 minimum.
APY = Annual Percentage Yield. Refer to the Account Disclosure for account information. Please call: 513.243.4328 or 800.542.7093 for the most current rates.