Tools To Save For The Future - Share Certificates

No one wants to play around with their savings. Your employees work hard for their money, and if they've built up a sizable nest egg. They’ll want to park it somewhere safe where it will have the best chance at growth.

 

If they're looking for a place to keep their savings, a share certificate at CSE can be a fantastic option. These accounts offer the best of both worlds when it comes to savings — blending the growth you’d expect from a stock with the security of a savings account.

 

HERE’S WHY THIS SAVINGS PRODUCT MIGHT BE THE PERFECT CHOICE FOR YOUR EMPLOYEE:

 

What is a share certificate?

A share certificate is a federally insured savings account with a fixed dividend rate during a fixed date of maturity. The dividend rates of these accounts are usually higher than those on savings accounts. Most certificates will not allow someone to add any money to the certificate after they’ve made their initial deposit and they won’t be able to withdraw funds before the maturity date without paying a penalty.

 

Terms and conditions of certificates

The employee will need to meet some basic requirements before they can open a certificate, including a minimum opening balance and a commitment to keep money in the account for a set amount of time. The specifications of these requirements vary with each institution. In general, though, the more money invested in a certificate and the longer its maturity term, the higher the dividend rate on the certificate.

Is a share certificate for everyone?

A share certificate is best for individuals who have a separate emergency fund to cover those surprise expenses. Before opening a certificate, make sure you won’t need to access the funds before the maturity date.

What are the advantages of a CSE Share Certificate? 

  1. Pick a term that’s best! Terms range from six months to five years

  2. Earn a higher rate of return for longer terms

  3. Guaranteed fixed-rate returns for the entire term

  4. Rest easy knowing funds are NCUA insured for the Member’s protection

  5. For younger Members, age 25 and under, the minimum deposit requirement is only $500.00

 

Plan ahead for the future.

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