What is a Term Share Certificate?

A Term Share Certificate (also referred to as a Certificate of Deposit) is a savings certificate entitling the bearer to receive dividends. A Term Share Certificate bears a maturity date, specified fixed dividend rate and can be issued in any denomination over $500. When you open a Term Share Certificate, your money is on deposit for a specific time period.   For agreeing to keep it on deposit for a specified time period, you earn more than you would in a regular savings account.  If you cash it in before it’s maturity date, you pay a penalty.  For more information on Term Share Certificates, click here.