Share Certificates:

In addition to savings accounts, M-O Federal Credit Union provides a range of Share Certificates for both short-term and long-term investments opportunities.

Share Certificates

A Share Certificate is a great option if you want to earn additional interest while not needing immediate access to the funds.  A Share Certificate is a savings certificate with a fixed maturity date that earns interest at a fixed rate.  It can be issued in any denomination, with a minimum investment of $1,000.  The interest rate is generally higher than a regular share (savings) account, because the money cannot be withdrawn until the maturity date, or a penalty will apply. 

Automatic Renewal:  All of our Share Certificates automatically renew, which means you don’t need to contact the Credit Union each time a share certificate is about to mature.  The certificate(s) will renew for the same term it was originally issued for.  For example, if you have a 12-month share certificate, it will automatically renew for another 12 months upon maturity.  The renewal rate will be the current rate at the time of renewal, so if interest rates have increased since your initial certificate, your rate will also increase!  If you need the certificate funds and prefer not to renew, just let us know.  We encourage you to reach out to us prior to the renewal date; however, if necessary, you have a grace period of 10 days following the renewal date.

Early withdrawal penalty:  A substantial penalty is imposed for withdrawals before maturity date.  Share certificate terms of less then one year; the penalty is 180 days dividends, whether paid or not.  Share certificate terms of one year or more; the early withdrawal penalty is 365 days dividends, whether paid or not.  The penalty doesn’t apply to early withdrawals due to death of any owner. 

Click here to view our current rates.