Share Certificates
BACK BY POPULAR DEMAND AS OF AUGUST 1st 2025!
Share certificates are a great way to put money away and earn a higher dividend rate than you would normally get in a regular share savings account. The minimum balance for a certificate is $500.00, and interest is not compounded. There is an early withdrawal penalty of 90 Days’ interest. It is easy to start a certificate, and it can be done through an IRA, too. When your certificate matures, you can withdraw all or some of it, or let it roll into a new certificate at the current market rates.
Benefits:
- Earn higher dividends than basic savings accounts
- Maximizes earnings when rates are dropping
- Available automatic rollover
- Additional deposits permitted at the time of maturity
- Renewal grace periods of 7 days
- Maturity notices mailed 14 days before maturity date
If you are interested in opening an IRA share certificate, stop by our branch or call 718-549-5858 to request the documents.
To open a Share Certificate account by mail, follow these simple steps:
- Submit your request in writing. Be sure to include your name, joint owner name, account number, certificate term, amount of certificate, and list beneficiaries.
- Sign the written request.
- Mail the signed written request and a check for the opening deposit (if applicable) to the address below:
Van Cortlandt Cooperative
Federal Credit Union
3960 Hillman Avenue, Grnd B
Bronx, NY 10463
