A certificate is a valuable financial product that guarantees you a return on your savings in exchange for a committed term. With a low minimum deposit of just $500 (only $25 for our members under 23), you can select the term that works for you — as short as six months and up to 30 months. Your certificate can be a regular savings certificate or an IRA certificate.
The longer your certificate, the higher the guaranteed return on your investment. You earn dividends on certificates from the date of your opening deposit up to your maturity date, compounded monthly.
| Share Certificates† | APY* | Min Bal** |
|---|---|---|
| 6 Months | 0.25% | $500 |
| 12 Months | 0.30% | $500 |
| 18 Months | 0.35% | $500 |
| 24 Months | 0.40% | $500 |
| 30 Months | 0.45% | $500 |
| 36 Months | 0.50% | $500 |
A popular option for many members that gives guaranteed returns and periodic liquidity is stepping or staggering several certificates. Instead of depositing your full investment balance into one certificate, you would divide the investment amount over several certificates with varying terms. This gives you access to those funds at recurring maturity intervals. If you don’t need the funds, you simply reinvest in a higher term certificate. Ask our professional member representatives for complete details on this approach.
As an encouragement for family members to start putting aside money for a child's future expenses, BFCU offers special Youth/Young Adult Certificates with lower minimum deposits requirements:
| Young Member Certificate | APY* | Min Bal |
|---|---|---|
| 6 Months | 0.25% | $25 |
| 12 Months | 0.30% | $25 |
| 18 Months | 0.35% | $25 |
| 24 Months | 0.40% | $25 |
| 30 Months | 0.45% | $25 |
| 36 months | 0.50% | $500 |
