Certificates of Deposit

• Are an easy and convenient way to earn higher dividends on your funds
• Choose your term, earn consistent dividends and reinvest for maximum earnings
• Minimum Certificate amount is $1,000
• Terms are available from 1 month to 2 years

IRA Certificates

• Traditional, Roth and the Coverdell Education IRA Certificates are available
• Functions like a certificate
• Minimum opening deposit is $1,000
• NCUA insured up to $250,000 for Traditional and Roth and $250,000 for the Coverdell Education Savings Accounts
• IRA Maintenance Fee applies

Q: How do Certificates work?
A: You can generally earn higher dividends on your funds by putting them in a Certificate account where you can select a set period of time or term. You are guaranteed a set rate of return throughout the Certificate term.

Q: What terms are available?
A: You can choose a term as short as 1 month or as long as two years. The right terms depends on your earnings goal.

Q: Is there a minimum amount needed to open a Certificate?
A : Yes. The minimum amount is $1,000.

Q: When do I get the dividend?
A: Dividends accrue monthly for certificates and are automatically reinvested back into your Certificate for greater earnings.

Q: What if I open a Certificate today and then need the money before the maturity date?
A: It is possible to access the money you have in the Certificate account before the set maturity date. However, there is a penalty for early withdrawal.

You could also apply for an STAR Community Credit Union Certificate secured loan which lets you borrow against your certificate giving you the flexibility of accessing your cash while still earning dividends on your funds.

Q: What happens to my money when the Certificate matures?
A: STAR will send you a reminder notice shortly before your Certificate matures so that you can review the options set up when your Certificate was opened. Your funds are either set up to be automatically reinvested at maturity into another Certificate of the same term at the current rate or automatically deposited into another account of your choice. You can change these options at any time during the Certificate term.

Q: Are my funds insured?
A: Yes. Member accounts, including certificates, are insured up to at least $250,000 by the National Credit Union Share Insurance Fund.

Q: I've heard it's smart to “ladder” Certificates. What does that mean?
A: Laddering is an investment method that helps you get the most earnings and most flexibility out of your Certificates. It allows you to earn market-rate dividends while also having access to your funds within a relatively short period of time.

Start your ladder by opening several Certificate accounts that mature at different times. For example, you can open accounts that mature in 6 months, 12 months, and 18 months. Every six months one of your Certificates will mature and you can roll it over into a new one year or longer maturity at a new rate. Within a few years, you'll have Certificates that renew regularly, with staggered maturity dates.

Q:How do I know what I can earn?
A: View current Certificate rates, or call the member services department.

Q: How do I open an account?
A: To get started, call us at 895-1947 or visit us during business hours.

See the Savings Overview page for more information.