What exactly is a Term Certificate? It's what banks call a certificate of deposit. We're different than a bank, so we use a different term.
Our Term Certificates generally earn higher dividends than Tiered Savings Accounts, so if you can afford to lock up your money for a little while, this might be the account for you. We'll keep it safe and sound, and, more importantly, make sure it grows.
How to Open and Fund a Term Certificate
-
New Members
-
Existing Members
-
How to Link and Use an External Account
Term Certificate Rates
3 Month
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$250 | 3.50% | 3.44% |
6 Month
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$250 | 3.50% | 3.44% |
10 Month Promotional Offer
Rate applies only to accounts funded with money not currently held at SF Fire Credit Union.
Minimum Deposit / Minimum Balance | APY* | Dividend |
---|---|---|
$250 | 5.00% | 4.875% |
1 Year
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$250 | 3.50% | 3.44% |
18-Month Bump Up1
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$250 | 0.20% | 0.20% |
2 Year
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$250 | 2.50% | 2.47% |
3 Year
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$250 | 2.45% | 2.42% |
5 Year
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$250 | 2.25% | 2.23% |
Rates effective as of 3/14/2024. Rates are subject to change at any time.
Term Certificates have a required minimum deposit of $250.
*APY= Annual Percentage Yield. The APY is the effective annual rate of return and assumes that the funds will remain in the deposit account for a full 365 days. Interest rate for Term Certificates is fixed for the length of the term.
COMPOUNDING AND CREDITING OF DIVIDENDS
Dividends will be compounded daily and credited monthly and at maturity.
DIVIDEND COMPUTATION
Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Fees or other conditions could reduce the earnings on the account. A penalty may be imposed for withdrawals before maturity. If a penalty is applied, it will be:
If the term of the account is less than one year, you will forfeit an amount equal to all dividends for 45 days on the amount withdrawn.
If the term of the account is one year or more, you will forfeit an amount equal to all dividends for 180 days on the amount withdrawn.
1 If the prevailing dividend rates for new 18-Month Bump Up Term Certificates go up during your 18-Month term, you may contact us once during the 18 months to increase your dividend rate to match that of new term certificates.
Jumbo Term Certificate Rates
3 Month
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$100,000 | 3.50% | 3.44% |
6 Month
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$100,000 | 3.50% | 3.44% |
1 Year
Minimum Deposit/Minimum Balance | APY* | Dividend |
---|---|---|
$100,000 | 3.50% | 3.44% |
Rates effective as of 1/03/2024. Rates are subject to change at any time.
Jumbo Term Certificates have a required minimum deposit of $100,000
*APY= Annual Percentage Yield. The APY is the effective annual rate of return and assumes that the funds will remain in the deposit account for a full 365 days. Unless otherwise paid, excluding IRAs, dividends will be credited to your account and compounded every month.
COMPOUNDING AND CREDITING OF DIVIDENDS
Dividends will be compounded daily and credited monthly and at maturity.
DIVIDEND COMPUTATION
Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Fees or other conditions could reduce the earnings on the account. A penalty may be imposed for withdrawals before maturity. If a penalty is applied, it will be:
If the term of the account is less than one year, you will forfeit an amount equal to all dividends for 45 days on the amount withdrawn.
If the term of the account is one year or more, you will forfeit an amount equal to all dividends for 180 days on the amount withdrawn.
Frequently Asked Questions
-
How much of a deposit do I need to open a Term Certificate?
-
How are dividends calculated for Term Certificates?
-
Are the dividends for Term Certificates compounded?
-
When can I add more funds to a Term Certificate?
-
What happens if I need to withdraw from a Term Certificate before it matures?
-
How does a Bump Up Term Certificate work?
Discover More
Jump start your emergency savings fund
An emergency fund is a good way to prepare for unexpected events by giving you a financial cushion to handle emergencies without going into debt.
Learn MoreSay goodbye to credit card fees
Get the card that cuts out fees while giving you rewards, overdraft protection, and lower rates.
Learn MoreLet's Talk
As a local credit union, we measure our success one member at a time. We want to get to know you and help you achieve your goals. Come into a branch or call us today. Our people are happy to serve you.
Stop by a branch
Branch hours
Mon – Fri 9:30 AM – 5:30 PM
Saturday 10:00 AM – 2:00 PM