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