Share Certificates

Share certificates are a great way to put money away and earn a higher dividend rate than you would normally get in a regular share savings account. We are only offering a 12 month term at this time. The minimum balance for a certificate is $500.00, and interest is not compounded. There is an early withdrawal penalty of one month’s interest.  It is easy to start a certificate, and it can be done through an IRA, too.  When your certificate matures, you can withdraw all or some of it, or let it roll into a new certificate at the current market rates.


  • Earn higher dividends than basic savings accounts
  • Maximizes earnings when rates are dropping
  • Available automatic rollover
  • Additional deposits permitted at the time of maturity
  • Renewal grace periods of 7 days
  • Maturity notices mailed 14 days before maturity date

If you are interested in opening an IRA share certificate, stop by our branch or call 718-549-5858 to request the documents.

To open a Share Certificate account by mail, follow these simple steps:

  1. Submit your request in writing. Be sure to include your name, joint owner name, account number, certificate term (Only offering 12 month terms at this time ), amount of certificate, and list beneficiaries.
  2. Sign the written request.
  3. Mail the signed written request and a check for the opening deposit (if applicable) to the address below:

Van Cortlandt Cooperative
Federal Credit Union
3960 Hillman Avenue, Grnd B
Bronx, NY 10463