Both Certificates and CDs work the same way providing a fixed return when funds are invested for a specified amount of time. The difference is that credit unions call the account a Certificate and banks call the account a Certificate of Deposit (CD). 

A certificate is an investment option that provides a fixed rate for a specific period. The funds cannot be withdrawn during the certificate term without paying a penalty.  Certificates are federally insured by the NCUA up to $250,000.

Certificate accounts have no fees. If you withdraw funds before the maturity date, you may incur an early withdrawal penalty.

7-Month Term:

• APY: 5.00%
• Deposit Limits: Minimum of $1,000 with no maximum limit.
• Requirements: Unlimited account openings per member.
• Availability: Offered online, over the phone, or in person for retail. IRA and business certificates must be opened at a branch.
• Duration: Available from February 1 to July 31, 2024.
• Maturity: Converts to a 6-month CD at the end of the term.

18-Month Term:

• APY: 4.50%
• Deposit Limits: Minimum of $1,000 with no cap.
• Requirements: No limit on the number of accounts.
• Availability: Offered online, over the phone, or in person for retail. IRA and business certificates must be opened at a branch.
• Duration: Offer extends from February 1 through July 31, 2024.
• Maturity: Automatically rolls over to a 12-month CD at term end.

30-Month Term:

• APY: 4.00%
• Deposit Limits: Minimum of $1,000, no maximum specified.
• Requirements: There's no cap on the number of accounts that can be opened.
• Availability: Offered online, over the phone, or in person for retail. IRA and business certificates must be opened at a branch.
• Duration: The term is available from February 1 to July 31, 2024.
• Maturity: Proceeds to a 24-month CD upon maturity.

10-Month Term:

• APY: 6.00%
• Deposit Limits: Minimum of $1,000, maximum of $5,000.
• Requirements: One promotional certificate per tax reported owner with the same max limit.
• Availability: Offered online, over the phone, or in person for retail. IRA and business certificates must be opened at a branch.
• Duration: Available from May 23 to July 31, 2024.
• Maturity: Converts to a 12-month CD at the end of the term.
• Additional Information: Not eligible for Added Advantage rate increases or managerial discretion rate bonus increases.

For over 80 years Nuvision has been helping its members build better lives. Born nearly a century ago as the credit union of Douglas Aircraft, our values were forged in the factories and plants that made the region prosper. At our core, we are a credit union built for hard working people with a commitment to strength, independence and discipline. Our Members are people who believe that if you work hard enough, a better life is always possible. Not just for yourself, but future generations to come.

With Nuvision, you have a credit union that is dedicated to building your life!

Early Withdrawal Penalty Details. We may impose a penalty if you withdraw any of the principal of the Certificate Account before the maturity date.

1) Amount of Penalty. The penalty is based on the term of the certificate. For certificates with terms of one year or less, the penalty is equal to 90 days' dividends on the amount withdrawn. For certificates with terms of longer than one year, the penalty will equal 180 days' dividends on the amount withdrawn.

2) How the Penalty Works. The penalty is calculated on the amount of early withdrawal. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.

3) Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: when an owner on an account dies or is determined legally incompetent by a court or other body of competent jurisdiction. Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment or where the account is an IRA and the owner attains age 59½ or becomes disabled and begins making periodic withdrawals.