Share Certificates: Make your money work for you

In a regular savings, checking, or money market account, interest rates fluctuate with the economy. Share Certificates are a safe place to put your money if you're looking to save for a fixed amount of time. 

Credit unions call this type of savings account “share certificates.” Banks call them “CDs” or “certificates of deposit.” Why the difference? Member-owned, not-for-profit credit unions, like Nusenda, return – or share – our profits with members in the form of reduced fees, lower loan rates—and higher savings rates.

Three easy options to open a share certificate today:

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Certificate Basics

What is a Share Certificate?

Credit unions call this type of savings account “share certificates.” Banks call them “CDs” or “certificates of deposit.”

Why the difference? Member-owned, not-for-profit credit unions, like Nusenda, return – or share – our profits with members in the form of reduced fees, lower loan rates—and higher savings rates.


What is the minimum deposit to open a certificate account?

You can open our regular share certificates with a minimum of $1,000 or open an IRA share certificate with a minimum of $500. Our share certificates compound monthly to form a new balance on which you earn the next month of interest.

If I'm monitoring rates, does a Bump certificate let me change my rates?

Bump rate certificates provide the flexibility to “bump up” the rate of your certificate one time if rates rise during your term. You can also deposit additional funds to your certificate at that time.

What are the penalities for withdrawing money or closing a share certificate early?

If you think you might need access to your money before the term ends, talk to us about other savings options. Share certificates have penalties if you withdraw from your initial deposit before the term is up. You can withdraw your return or dividends at any time without penalty (although that has a negative impact on your potential returns because that interest will not be added to your base and will not compound).

What is an IRA Share Certificate, and when should I choose it?

An IRA share certificate is a share certificate that lives within an Individual Retirement Account plan. It combines the tax advantages of a Traditional IRA or Roth IRA with the security of a share certificate.

IRA share certificates are a safe place for your retirement savings because your dividend rate won’t fluctuate with the market.

How do IRA Share Certificates work?

Make a minimum opening deposit of $500 and choose a preset term from three months up to 60 months.

You can contribute up to $6,500 each tax year ($7,500 if you’re over age 50) into your IRA share certificate at any time until the tax deadline. Then, enjoy tax-deferred growth. IRA contribution and distribution rules apply to an IRA share certificate. Please discuss any questions about this account with a tax professional.

Your IRA share certificate will automatically renew for the same term on the maturity date unless you otherwise specify.

Anyone with earned income can make contributions.

Tax-deductibility is subject to income limitations if you already participate in an employer-sponsored plan. Please consult a qualified tax professional for tax advice on your specific circumstances.

Share Certificates at-a-glance

A type of savings account

Let your money work for you

Fixed term and rate

That works with your investment goals

Higher rates

Than standard savings accounts

Earn compound interest

Increase your balance as you go

Federally insured by NCUA

Up to $250,000

How do they work?

To open a share certificate, you choose the term, typically 3, 6, or 12-months, or up to 5 years, and make a deposit. Usually, the longer the term, the higher the return (quoted as “dividend rate” and the associated “Annual Percentage Yield,” which includes the effect of compounding).

You can open our regular share certificates with a minimum of $1,000. Our share certificates compound monthly to form a new balance on which you earn the next month of interest.

Then, you watch your money grow.

At the end of the term, you can withdraw your money, plus the returns or “dividends” you have earned, or you can renew your certificate and keep earning.

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Learn more about share certificates

Share Certificates & IRA Certificates

Regular Share Certificate Rates

IRA Share Certificate Rates