A Share Certificate (also referred to as a Certificate of Deposit or “CD”) can be a short or medium term investment, interest bearing, and NCUA insured deposit instrument. Share Certificates offer higher rates of return than Money Market accounts, but strictly limit transaction activity. Money removed before maturity is subject to a penalty. Share Certificates are also known as “time deposits” because the account holder has agreed to keep the money in the account for a specified term or time period.
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