Share Certificates
GPOFCU Share Certificates
By committing your funds for a given length of time, you can generally expect to get a higher rate of return on your deposits. GPOFCU offers share certificates that can help you invest your money safely and wisely.
Regular Share Certificates with terms of 6-60 months — minimum for 24 months or less is $500, minimum for up to 60 months is $2,000
Jumbo Share Certificates — minimum $25,000 with terms of 6 to 24 months
Insured for up to $250,000 per member by the National Credit Union Administration, an agency of the U.S. government.
Early Withdrawal of a Share Certificate
If you need to withdraw funds from your certificate prior to maturity‚ you have two choices:
Close the certificate and withdraw your money. If any funds must be withdrawn from a certificate‚ the entire certificate balance must be withdrawn and the certificate closed. If you only need a portion of the funds‚ the remaining amount may be deposited into a new share certificate. There is a substantial penalty for early withdrawal from a share certificate.
Keep the certificate open‚ and apply for a loan secured by the certificate for which there would be no penalty‚ but the loan will incur interest.
Please ask a GPOFCU Member Service Representative to help you determine which choice will save you money.
Penalty for Early Withdrawal
Penalties apply to dividends only, so you will never lose money on a share certificate‚ even if you have to close the certificate before maturity. All or any portion of the principal may be withdrawn prior to maturity‚ subject to a penalty equal to the interest on the amount withdrawn at the simple interest rate of this account‚ but shall not be more than 90 days worth of interest nor less than five (5) days of interest on the withdrawn amount.