Student Loans
Great Lakes Credit Union has everything you need to help manage your money and plan for the future.
Share Certificates
Earn one of the highest deposit rates in the country with GLCU’s certificates.
GLCU’s certificates are a great way to earn high returns without the risks of the market. Your deposits are insured up to $250,000 by the NCUA. Once your certificate matures, you can reinvest the funds into another certificate to keep earning more.
What Is a Share Certificate?
A share certificate is a specialized type of savings account offered by credit unions. It allows the account holder to earn a higher interest rate or dividend compared to regular savings accounts. However, account holder must agree to not withdraw the deposited funds for a certain period of time. If the holder withdraws the money earlier than the agreed-upon period, they might be subjected to a penalty.
Features:
- Terms up to 5 years
- Fixed rate of return
- Federally insured
If you have many accounts, use the Share Insurance Estimator to help determine how you can structure them to remain under NCUA insurance.
Effective Date: Thursday, September 19, 2024
| Account Type | MINIMUM DEPOSIT | Dividend Rate | APY* | How to Open |
|---|---|---|---|---|
Save to Win 1 yr 3 | $25 min | .150% | 0.15% | |
Share Certificate 3 mo2 | $1,000 min | 3.682% | 3.74% | |
| Share Certificate 1 yr (Incl. IRA) 2 | $1,000 min | 1.143% | 1.15% | |
| Share Certificate 2 yr (Incl. IRA) 2 | $1,000 min | 1.193% | 1.20% | |
| Share Certificate 3 yr (Incl. IRA) 2 | $1,000 min | 1.242% | 1.25% | |
| Share Certificate 4 yr (Incl. IRA) 2 | $1,000 min | 1.292% | 1.30% | |
| Share Certificate 5 yr (Incl. IRA) 2 | $1,000 min | 1.390% | 1.40% | |
Jumbo 1 yr | $100,000 | 1.440% | 1.45% | |
Jumbo 2 yr | $100,000 | 1.489% | 1.50% | |
Jumbo 3 yr | $100,000 | 1.550% | 1.55% | |
Jumbo 4 yr | $100,000 | 1.587% | 1.60% | |
Jumbo 5 yr | $100,000 | 1.686% | 1.70% | |
Super Jumbo 1 yr | $250,000 | 1.637% | 1.65% | |
Super Jumbo 2 yr | $250,000 | 1.686% | 1.70% | |
Super Jumbo 3 yr | $250,000 | 1.735% | 1.75% | |
Super Jumbo 4 yr | $250,000 | 1.784% | 1.80% | |
Super Jumbo 5 yr | $250,000 | 1.882% | 1.90% |
*APY = Annual Percentage Yield. All dividend rates and APY may change at any time. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts. Penalties apply for early withdrawal from Share Certificates. Additional account information is provided in separate Account Disclosures. Rates are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Money Market dividends are calculated on the full balance using the highest applicable dividend rate. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings.
2 $1,000 Minimum to open account. Must maintain average daily balance of $1,000 to earn the above stated dividend.
3 $25 Minimum to open account. Must maintain average daily balance of $25 to earn the above stated dividend. One withdrawal from the account, with a $25.00 penalty to be assessed at the time of withdrawal, is allowed during the term of the Save to Win® Certificate. If the early withdrawal reduces the principal below the minimum balance or a second withdrawal is performed in the 12-month term, the certificate will be closed. Great Lakes Credit Union will deduct from the share certificate principal amount to cover the penalty. Additional deposits are allowed during the term of this certificate. For every $25.00 increase in month over month balance, the certificate owner will earn one entry (up to 10 entries per month/30 entries per quarter) into the savings raffle. The Savings Promotion Raffle runs January - December, however certificates will mature 12 months after account opening. The Official Rules can be found online at www.savetowin.org and are provided upon opening the certificate.
Effective Date: Thursday, September 19, 2024
| ACCOUNT TYPE | MINIMIUM DEPOSIT | DIVIDEND RATE | APY | HOW TO OPEN |
|---|---|---|---|---|
| Business 3 Month Certificate | $1,000 min | 3.682% | 3.75% | |
| Business 1 Yr Certificate 4 | $1,000 min | 1.143% | 1.15% | |
| Business 2 Yr Certificate4 | $1,000 min | 1.193% | 1.20% | |
| Business 3 Yr Certificate4 | $1,000 min | 1.242% | 1.25% | |
| Business 4 Yr Certificate4 | $1,000 min | 1.292% | 1.30% | |
| Business 5 Yr Certificate4 | $1,000 min | 1.390% | 1.40% | |
| Business Jumbo 1 yr | $100,000 min | 1.440% | 1.45% | |
| Business Jumbo 2 yr | $100,000 min | 1.489% | 1.50% | |
| Business Jumbo 3 yr | $100,000 min | 1.550% | 1.55% | |
| Business Jumbo 4 yr | $100,000 min | 1.587% | 1.60% | |
| Business Jumbo 5 yr | $100,000 min | 1.686% | 1.70% | |
| Business Super Jumbo 1 yr | $250,000 min | 1.637% | 1.65% | |
| Business Super Jumbo 2 yr | $250,000 min | 1.686% | 1.70% | |
| Business Super Jumbo 3 yr | $250,000 min | 1.735% | 1.75% | |
| Business Super Jumbo 4 yr | $250,000 min | 1.784% | 1.80% | |
| Business Super Jumbo 5 yr | $250,000 min | 1.882% | 1.90% |
*APY = Annual Percentage Yield. All dividend rates and APY may change at any time. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts. Penalties apply for early withdrawal from Share Certificates. Additional account information is provided in separate Account Disclosures. Rates are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Money Market dividends are calculated on the full balance using the highest applicable dividend rate. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings.
4 $1,000 Minimum to open account. Must maintain average daily balance of $1,000 to earn the above stated dividend.
*APY = Annual Percentage Yield. All dividend rates and APY may change at any time. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts. Penalties apply for early withdrawal from Share Certificates. Additional account information is provided in separate Account Disclosures. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings.