|Certificate Term||Dividend Rate¹||APY²||Minimum Opening Balance||Early Withdrawal Penalty|
|6 months||4.67%||4.75%||$500||90 days' dividends|
|9 months||4.67%||4.75%||$500||90 days' dividends|
|12 months||4.67%||4.75%||$500||180 days' dividends|
|13 months Online Only*||5.15%||5.25%||$500||180 days' dividends|
|18 months||4.52%||4.60%||$500||180 days' dividends|
|24 months||4.33%||4.40%||$500||180 days' dividends|
|30 months||4.14%||4.20%||$500||180 days' dividends|
|36 months||3.94%||4.00%||$500||180 days' dividends|
|48 months||3.70%||3.75%||$500||360 days' dividends|
|60 months||3.45%||3.50%||$500||360 days' dividends|
What are you saving for?
A savings certificate is a great way to save for the long term. With a fixed interest rate and a variety of term lengths to choose from, you can reach your financial goals faster.
Get started in as few as 3 minutes.
Save for your dream vacation.
Save for your child's future.
Save for your down payment.
What is a savings certificate and how does it work?
A savings certificate is a type of savings account where the depositor agrees to keep the money in the account for a fixed period of time, usually several months to several years, in exchange for a higher interest rate than they would typically receive on a traditional savings account.
What is the minimum deposit required to open a savings certificate?
You only need $500 to get started.
Savings certificate vs. savings account, which is better?
It depends on your goal. Although savings certificates and savings accounts are both used for saving money, typically you will earn more interest on a savings certificate. However, there are penalties for withdrawing your money early from a savings certificate. Typically, savings certificates are used for longer term savings. If you need access to withdraw your money at any time, then a savings account offers more flexibility.
How can I open a savings certificate?
If you are comfortable using the WECU app, you can easily open a 6 mo, 12 mo, or 24 mo savings certificate in as few as 3 minutes. Simply click the “plus” button in your app. We are happy to help you over the phone or in person as well. Simply click the Book an Appointment button below.
How do our certificates compound dividends?
Our certificates accrue dividends daily and compound quarterly. This means that beginning day 1, dividends accrue and are calculated on the principal balance. That accrual of funds posts to the balance of the certificate quarterly. Then day 2 of the next quarter, dividends begin to accrue on the principal + quarter dividend deposit (unless dividends are posted to a different account).
§ APY = Annual Percentage Yield. Certificate rates are effective as of September 06, 2023, and range from 3.50% to 5.25% APY, depending on the certificate term. Terms range from 6 to 60 months. $500 minimum balance required. Penalties may be imposed for early withdrawal. Fees could reduce earnings. The 13-month certificate special is being offered on new money deposited for a limited time and may end without notice. New money is defined as funds that were not at WECU, in any account prior to taking advantage of the 13-month certificate special. The certificate can only be opened online and must be opened online to qualify for the rate. This is a non-renewable certificate for the 13-month term and will automatically renew into a 12-month term at the published rate for that product unless you have selected a different term prior to maturity. The 13-Month certificate online special is not available for IRA or Business certificates. All other terms and conditions are subject to the Account Agreement and Truth in Savings Disclosures.
* APY = Annual Percentage Yield. Certificate rates are effective as of September 06, 2023, and range from 3.50% to 5.25% APY, depending on the certificate term. Terms range from 6 to 60 months. $500 minimum balance required. Penalties may be imposed for early withdrawal. Fees could reduce earnings.