Share Certificates
A TEGFCU Share Certificate Account (like a bank’s Certificate of Deposit or CD) is a simple way to grow your savings securely and predictably. You set aside funds for a set period—between 3 to 60 months—and in return, you earn higher yields than regular savings and checking accounts. The longer your certificate term, the more you earn.
If you’re looking for a safe investment with a guaranteed rate of return, a TEGFCU Share Certificate is a smart choice. It grows dependably with a fixed dividend rate and is insured up to at least $250,000 by NCUA.
Benefits
- Great way to invest with no risk to your principal.
- Higher interest than traditional savings accounts.
- Guaranteed returns
- Flexible Terms.
- Minimum opening deposit: $500
- Term lengths from 3 months to 60+ months
- Interest rates based on amount and term
- $500 minimum daily balance to earn the disclosed annual percentage yield
- Dividends paid monthly
- Penalty fee for early withdrawal
View Share Certificate Rates
| Term | APY* | Dividend Rate |
|---|---|---|
| 3 to 5 months | 0.55% | 0.55 |
| 6 to 11 months | 1.00% | 1.00 |
| 12 to 23 months | 4.07% | 4.00 |
| 24 to 35 months | 4.33% | 4.25 |
| 36 to 60 months | 5.12% | 5.00 |
APY = Annual Percentage Yield. Rates as of 5/1/2024 and may change at any time. Maximum term is 60 months. Dividends declared on the last day of the month. Fees and early withdrawal penalties may reduce earnings. APY is based on non-withdrawal of dividends earned. A $5 minimum share account balance is required for TEGFCU membership. Minimum to open account is $500.00.
Open a New Share Certificate
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IRA Certificates
IRA certificates are a secure way to invest your money within your overall IRA account and grow your retirement assets. They give you the guaranteed return of a certificate and the tax benefits of an IRA.
- Minimum opening deposit: $500
- Term lengths from 3 months to 60+ months
- Higher interest rates than standard certificates (view rates1)
We recommend talking with a professional tax or retirement advisor to learn more about IRA rules and terms.
TEGFCU offers IRA Certificates for
all three types of IRAs
View IRA Rates
| Term | Daily Minimum | APY* | Dividend Rate |
|---|---|---|---|
| 3 to 5 months | $500 | 0.60% | 0.60 |
| 6 to 11 months | $500 | 1.06% | 1.05 |
| 12 to 23 months | $500 | 4.13% | 4.05 |
| 24 to 35 months | $500 | 4.39% | 4.30 |
| 36 to 60 months | $500 | 5.17% | 5.05 |
APY = Annual Percentage Yield. Rates as of 5/1/2024 and may change at any time. Maximum term is 60 months. Dividends declared on the last day of the month. Fees and early withdrawal penalties may reduce earnings. APY is based on non-withdrawal of dividends earned. A $5 minimum share account balance is required for TEGFCU membership. Minimum to open account is $500.00.
Short-Term vs. Long-Term – How to Choose
The longer you can commit to saving, the higher your interest rate! One of the great things about a Share Certificate is that the choice is up to you.
Choose a shorter term if:
- You expect to need access to your funds soon.
- You expect rates to rise and want the flexibility to reinvest at a higher rate.
Choose a longer term if:
- You don’t anticipate needing access to your funds right away.
- You want to earn a higher return.
- You expect rates to stay the same or decline.
Been using their services for years. They truly make members feel like family. From sitting down to apply for a loan, to simply depositing a check they always make an effort to ensure all customer needs are met. Thank You.
Best bank in the Hudson Valley hands down. Very consumer friendly, customer service is outstanding, and will be a lifelong customer.
Scott was great to work with! Scott helped explain all the different mortgage options available to us and made recommendations based on our specific needs. He was able to streamline the process making it easy for us with our busy schedules.
Matt and TEGFCU staff helped us with everything we needed and we greatly appreciate him. As first-time home buyers all our questions were answered promptly with no problems and highly recommend their services.
The people who work here are so nice and friendly. They’ve gone above and beyond in answering my questions and helping me with my car loan and banking. Great people!
Join TEGFCU
At TEGFCU, your best interests have always been our focus. As a better alternative to banks, our mission is simple, to help you get to a better place financially.
Membership is open to anyone (and their immediate families) who lives, works, worships, or attends school in Dutchess, Orange, Ulster, Putnam, Rockland, Sullivan, and Westchester County, NY. A $5 minimum deposit opens the door to all the benefits of being a valued TEGFCU member.
When we come together, everyone grows.
Dividends will begin to accrue on the business day a noncash item (for example, checks) is deposited to the account. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends can only be added to the principal of the certificate or deposited into a share account. The annual percentage yield assumes that dividends will remain in the account until maturity; therefore, a withdrawal of dividends before maturity will reduce earnings.
