A Share Certificate is a type of investment where you deposit a certain amount of money for a fixed period of time, typically ranging from several months to several years, in exchange for a guaranteed interest rate. (It’s the equivalent of a certificate of deposit at a bank.)
Benefits:
- Guaranteed returns: Share Certificates offer a fixed rate of return that is guaranteed for the entire duration of the investment period, so you know exactly how much you’ll earn.
- Low risk: Share Certificates are considered a low-risk investment since they are FDIC-insured up to $250,000 per depositor, per insured bank, so your money is protected against bank failure.
- Predictability: Since the interest rate is fixed, you know exactly how much money you will earn at the end of the investment period.
Share Certificates can be a good option for those looking for a low-risk investment with guaranteed returns, though they may not be the best choice for those looking to maximize their returns or have easy access to their money. Talk to a friendly MMCCU team member to determine if a Share Certificate is right for you.
Learn more about Share Certificates available at MMCCU HERE.
