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What is a share certificate?

A credit union offers a share certificate to save money at a fixed rate and term. It resembles a CD or certificate of deposit that banks offer. The difference is that is pays out dividends instead of interest. It usually has a minimum deposit amount.

How does it work?

With a share certificate, you select the duration. The dividend is compounded yearly and cannot be withdrawn until the term or maturity date is reached. At the end of the term, the money can be withdrawn or rolled over into a new one. If the instructions are not given, it will automatically be put into a new certificate at a new rate.

There are early withdrawal penalties if money is removed before maturity

What is the difference between a CD and a Share Certificate?

The main difference is that a share certificate is from a credit union, and a CD is from a bank. The CD will earn compounded interest earned over a set term, and the share certificate will earn a dividend. Credit Unions usually have better rates than a bank.

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APY= Annual Percentage Yield. This certificate is a limited-time offer as of  2/5/23. The rate and terms are subject to change at any time. The minimum deposit to open each certificate and to obtain the stated APY is $500.00.  New members must meet the field of membership requirements and, at minimum, open a share account. The credit union will accept deposits based on the Membership Agreement and Disclosure. Additional information is available by calling 1-800-540-8707. Maine State Credit Union is federally insured by NCUA.
 

Share Certificate of Deposits

Share Certificate of Deposits

TermMINIMUMPENALTYRATEAPY*New MembersExisting Members
9 Month PROMO$500.0090 Days4.410%4.50%*

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6 MONTH$500.0090 Days3.203%3.25%*

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1 YEAR$500.0090 Days3.445%3.50%*

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18 MONTHS$500.0090 Days3.687%3.75%*

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2 YEAR$500.0090 Days3.928%4.00%*

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3 YEAR$500.00180 Days3.445%3.50%*

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4 YEAR$500.00180 Days2.960%3.00%*

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5 YEAR$500.00180 Days2.716%2.75%*

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