If you want to build wealth these days, you're going to need more than a savings account. A Share Certificate (known in banking as a CD) earns a guaranteed rate that's higher than most anything out there. Set a specific amount of money aside for a set amount of time and watch the dividends roll in!
| Certificate Term | Dividend Rate | APY* |
|---|---|---|
| 6 Months | 2.50% | 2.53% |
| 1 Year | 4.12% | 4.20% |
| 18 Months | 4.07% | 4.15% |
| 2 Years | 3.93% | 4.00% |
| 3 Years | 3.45% | 3.50% |
| 4 Years | 3.45% | 3.50% |
| 5 Years | 3.45% | 3.50% |
*APY = Annual Percentage Yield.
†All rates are subject to change without notice. Minimum of $1,000 needed to open a 6-month share certificate, $500 needed to open most others. Penalties may be charged for early withdrawals. Qualification requirements must be met. Other restrictions may apply.
Several of our friendly Member Service Representatives are trained in investments and can help you pick a term and amount for your Share Certificate that fits your financial circumstances. We have six-month, one-year, 18-month, two-, three-, four-, and five-year terms available. Penalties may be charged for early withdrawals.
We do not recommend that account holders pursue this course of action, as it becomes complicated while also potentially posing a risk to Acadia FCU. Due to the fact that individuals often make multiple updates to their wills throughout their lifetime, it is possible for beneficiaries to be added or removed. Consequently, it can be challenging for a financial institution to determine which will is the most current and valid. Therefore, it is best practice for members to clearly specify their intended beneficiary(ies) in their member account documentation.
If a member insists on using the “See Will” option, Acadia FCU will require a notarized copy of the will, which will be recorded with a date in the member’s account(s). In the event that the member updates their will and fails to notify us, we will rely on the version of the will that was initially provided.
As per our membership agreement, should Acadia need to hire legal counsel in order to make the proper determination as to who the beneficiaries and the proper percentage of the disbursements are, Acadia FCU may deduct those legal fees from funds that are on deposit. If you have any concerns regarding this matter, please do not hesitate to contact us.
Yes – a share-secured loan lets you borrow money using a savings account, a share certificate (also known as a CD in the banking world), Acadia Super Saver account, or Acadia Star Money Market account as collateral. We’ll “freeze” the amount you’d like to borrow and while the amount won’t be available for withdrawal, it will remain in your account and continue to earn dividends. Share-secured loans allow you to keep the money you have worked so hard for! As you pay down the loan, your funds become available to you again. A share-secured loan is also a great way to build or rebuild your credit score.
The amount of the penalty is based on the term of your certificate account. For account terms 12 months or less, the penalty is equal to six months’ (180 days) dividends on the amount withdrawn whether earned or not. For account terms greater than 12 months, the penalty is equal to nine months’ (270 days) dividends on the amount withdrawn whether earned or not.
Note: Both Certificates of Deposit (CDs) and share certificates are low-risk deposit accounts where your money can grow at a fixed rate. The main distinction between them is that CDs are products offered by for-profit banks, while share certificates are offered by member-owned, not-for-profit credit unions. Share certificates are federally insured by the NCUA while the FDIC insures CDs at banks.
You certainly can open savings accounts online! You can apply right here and indicate what type of account you want to open.
You can find all of Acadia’s important disclosures and various account applications right here.
A certificate of deposit or time deposit account is a type of savings tool available at banks (*see note below) that can offer a higher return on your money than most standard savings accounts. A financial institution agrees to pay interest at a certain rate if you deposit your cash for a set term (period of time).
Note: Both Certificates of Deposit (CDs) and share certificates are low-risk deposit accounts where your money can grow at a fixed rate. The main distinction between them is that CDs are products offered by for-profit banks, while share certificates are offered by member-owned, not-for-profit credit unions. Share certificates are federally insured by the NCUA while the FDIC insures CDs at banks. Acadia FCU offers share certificates as part of our savings options.
Yes, you will receive a maturity notice at least 10 days prior to maturity.
The minimum deposit amount needed to open a certificate is $500. The minimum deposit for a jumbo certificate is $250,000 (or lower, if management approves).
Yes, joint owners and/or beneficiaries are required on your Acadia Share Certificate.
Note: Both Certificates of Deposit (CDs) and share certificates are low-risk deposit accounts where your money can grow at a fixed rate. The main distinction between them is that CDs are products offered by for-profit banks, while share certificates are offered by member-owned, not-for-profit credit unions. Share certificates are federally insured by the NCUA while the FDIC insures CDs at banks. Acadia FCU offers share certificates as part of our savings options.
I have been with Acadia for as long as I can remember. I got my first car loan and four wheeler loan through them. I moved away about eight years ago and would never even consider changing to another financial institution! Katelyn L., member since 2004
