By committing your funds to savings for a given length of time with a share certificate, you earn greater dividends
. With a minimum deposit of just $500, you can get a certificate for a term of six months to 36 months. The longer the term, the more dividends you earn. If you deposit at least $10,000 to a single certificate, you'll earn at an even higher rate
. Just make sure you don’t invest money you need right away. Penalties apply for early withdrawal.
Even a high certificate balance is a safe investment. Your funds are insured up to $250,000 through the National Credit Union Administration, an agency of the U.S. government.