What Is a Share Certificate (Credit Union CD)?
3 min read
If you've heard of a CD, you already understand a share certificate. It's the credit union term for the same product — and credit union certificates often pay some of the most competitive APYs available.
How certificates work
You deposit a sum for a fixed term — commonly 6 months to 5 years — and earn a guaranteed APY that's locked in for the whole term. Longer terms usually pay more.
Withdrawing early typically forfeits some interest, so certificates suit money you won't need until the term ends.
Certificate vs CD vs savings
A certificate (credit union) and a CD (bank) are the same idea. Both differ from a savings account: savings rates can change anytime and let you withdraw freely, while a certificate locks the rate and the term.
A common strategy is a “ladder” — splitting money across several terms so a portion matures each year, balancing access with higher long-term yields.
Getting the best rate
Certificate APYs vary widely between institutions. Compare current credit union certificate rates by term on FindMyCU, and remember you can join more than one credit union to chase the best rate.