A CD/Share Certificate from New Horizon FCU is a smart deposit choice for money you don’t need to access immediately. These savings tools offer the following benefits:
- Flexible Terms: Term lengths vary from a few months to several years. You select the term that best fits your needs.
- Guaranteed Interest Rate: Your interest rate is fixed for the term of your CD/Share Certificate. It won’t change, regardless of other interest rate fluctuations. Click here to see our current rates.
- Dividend Payout Options: When you open your CD/Share Certificate, you’ll choose how your dividend is paid to you. It may be added to the principal, transferred to a regular Share Savings Account, or mailed to your address on file with restrictions.
- Renewal Options: When your CD/Share Certificate term is about to expire, we’ll notify you. At that time, you can renew your CD/Share Certificate with the same term, switch to a shorter or longer term, transfer the funds to your Share Savings Account or Checking Account, or receive a check for the balance.
- Deposit Insurance: CD/Share Certificates are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government through the National Credit Union Share Insurance Fund (NCUSIF).
How to Open a CD/Share Certificate:
- You must have a Share Savings Account.
- A minimum $500 deposit is required per CD/Share Certificate opened.
- Click here to begin opening a CD/Share Certificate online.
- Visit us in the branch or call us at 330-745-8897 to open a CD/Share Certificate.
CD/Share Certificate Renewals:
If you have received notification that a CD/Share Certificate term is about to expire, please call us at 330-745-8897. If you do not call us, the CD/Share Certificate will renew automatically for the same term and at the current rate.
CD/Share Certificate Penalties:
Penalties are assessed for early withdrawal in the following manner:
- If the maturity of the CD/Share Certificate is one year or less, the forfeiture of dividends is equal to the smaller of the following two amounts: dividends since the date of issuance or renewal, or 30 days’ dividends.
- If the maturity of the CD/Share Certificate is more than one year, the forfeiture of dividends is equal to the smaller of the following two amounts: dividends since the date of issuance or renewal, or 90 days’ dividends.