Earn a great rate on your money
Share Certificates Tips, Info & FAQs
A saved deposit for a given period of time with a fixed rate of interest
If you have cash to set aside, a share certificate is one of the most reliable ways to watch it grow. Choose a time period between 6 and 60 months, and we will offer you a highly favorable, fixed interest rate.
How to manage "the Medicare gap" if you're retiring early
Retiring early can seem like a dream come true. You can enjoy your golden years while many people your age are still running the rat race. However, early retirement also frequently comes with an unexpected cost—the Medicare gap. Medicare eligibility does not kick in until age 65. If you’re retiring earlier than that, you may be leaving your employer-sponsored health care plan. Here are three ways to help manage the issue:
1. Short-term insurance
Short-term insurance is relatively inexpensive, but does not offer the same amount of coverage as regular insurance. It’s probably the best choice if your Medicare gap is very short. You can take on a few months of risk, but shouldn’t plan on buying a short-term plan for years.
2. Open a share certificate
Share certificates allow you to set aside a certain amount of money for a specific time. In return for not touching those funds, you can enjoy a higher rate of interest. You can open a share certificate specifically for major medical expenses, a great way to face any potential emergency while you’re uninsured.
3. Open an HSA
An HSA account allows you to save money tax-free as long as it’s only used for medical expenses. Many employers will also match HSA contributions, so it’s worth looking into them long before the date of your retirement. Once you do turn 65, you can even start with withdrawing from your HSA for non-medical reasons. This makes it a highly versatile method of preparing for the future.
Resources
FAQs
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What is the minimum amount I can invest in a Share Certificate?
$500.
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What is the most I can invest in one Share Certificate?
You may invest as much as you wish. However, your funds will only be insured up to $250,000 per certificate.
If your investment exceeds $250,000, you may open unlimited certificates for up to $250,000 each and have insurance coverage.
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What is the longest term for a share certificate?
60 months.
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What is the shortest term for a share certificate?
Six months.
Next Step
Go to Next StepShare Certificates Rates & Calculator
Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Certificates & IRA Certificates
0.30% APY* | 6 months |
0.50% APY* | 12 months |
0.65% APY* | 24 months |
0.70% APY* | 36 months |
0.75% APY* | 48 months |
0.85% APY* | 60 months |
*APY = Annual Percentage Yield. APY offered period of January 1 - 31, 2021. Minimum balance to earn APY $500 for Certificates & IRA Certificates. A penalty will be imposed for early withdrawal. A withdrawal of all or any portion of the principal prior to maturity will cause automatic termination of the Certificate Account. For a Certificate with a term of one year or less, the penalty will be equal to 90 days worth of dividends, whether earned or unearned, which could reduce the principal balance of the Certificate. For a Certificate with a term exceeding one year, the penalty will be equal to 180 days worth of dividends, whether earned or unearned, which could reduce the principal balance of the Certificate.
Next Step
Go To Next StepShare Certificates Why United Texas
Share Certificates
- Fixed interest rates
- Funds insured up to $250,000
- No maximum investment caps
- Initial deposit of $500 required
- Terms between 6 and 60 months
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Next Step
Go To Next StepShare Certificates How it Works
Opening a Share Certificate with us is fast and simple.
STEP 1.
Give us a call, contact us online, or come into any one of our branches.
STEP 2.
Join United Texas Credit Union. All you need to do to become a member is to open a $5.00 minimum savings account.
STEP 3.
Open your Share Certificate account. You will need to make a minimum deposit of $500.
STEP 4.
Start earning great interest rates!
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More Info
Certificates are available for terms from 6 to 60 months. Dividend Rate and Annual Percentage Yield (APY) may vary depending on length of term.
A penalty will be imposed for early withdrawal. A withdrawal of all or any portion of the principal prior to maturity will cause automatic termination of the Certificate Account. For a Certificate with a term of one year or less, the penalty will be equal to 90 days worth of dividends, whether earned or unearned, which could reduce the principal balance of the Certificate. For a Certificate with a term exceeding one year, the penalty will be equal to 180 days worth of dividends, whether earned or unearned, which could reduce the principal balance of the Certificate.