Share Certificates
GPOFCU Share Certificates
Make Your Savings Work Harder
Put your money to work with a Share Certificate. By committing your funds for a set term, you can earn dividends at a competitive rate while keeping your savings secure.
Regular Share Certificates — Terms from 6 to 60 months. Minimum deposit is $500 for terms of 24 months or less and $2,000 for terms up to 60 months.
Jumbo Share Certificates — $25,000 minimum deposit with terms from 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
Need access to your funds before your certificate matures? You have two options:
Close the Certificate — If you withdraw funds before maturity, the certificate must be closed and the full balance withdrawn. If you only need a portion of the funds, the remaining amount may be placed into a new Share Certificate. Early withdrawal penalties apply.
Borrow Against the Certificate -Keep the certificate open‚ and apply for a loan secured by the certificate. No early withdrawal penalty applies, but interest will be charged on the loan.eep your certificate open and apply for a loan secured by the certificate. No early withdrawal penalty applies, but interest will be charged on the loan.
Please ask a GPOFCU Member Service Representative to help you determine which choice will save you money.
Penalty for Early Withdrawal
Early withdrawal penalties apply to dividends only and do not reduce your principal balance.
If you withdraw funds before the certificate matures, the penalty is based on the simple interest rate of the account and applies to the amount withdrawn. The penalty will be no more than 90 days of interest and no less than 5 days of interest on the amount withdrawn.
Please contact a GPOFCU Member Service Representative for assistance with early withdrawals and to understand how the penalty may affect your certificate.