Share Certificates

Mbrship_applicationCredit unions are known for checking and savings accounts, but it’s the Share Certificates that can really help you increase your savings.  Choose a Share Certificate at Sky and watch your savings grow!

A Sky Federal Credit Union Share Certificate, also referred to as a Certificates of Deposit (CD) at a bank, is a fixed-rate deposit account where the funds are locked in for a specific term. Share Certificate’s generally pay higher interest dividends than a Regular Share account.  The main difference between a Regular Share account and a Share Certificate is that withdrawing money from a certificate before it matures can lead to penalties.

At Sky FCU you can customize your certificate term and open it with as little as $500. A special 12 month certificate is available to our youth account holders which only requires $100 to open!

Share Certificate terms range from 3 months to 5 years. You get to decide which one will fit your needs, the rates typically increase with the length of deposit term.

ncua logoSky FCU is a federally chartered credit union, which means our certificates are insured by the National Credit Union Administration (NCUA) with a aggregate share total up to $250,000 per depositor and ownership category.

A Share Certificate can be an important part of your overall savings plan. By choosing the right type and not withdrawing the funds until the certificate matures, you can earn a nice rate of return on your money with the security of having your savings backed by the federal government.

Rates of return can change, so please refer to our Current Rate Sheet.



General Information


Interest begins to accrue on the day the share certificate is opened. Certificate dividends are calculated and paid monthly. Monthly dividends can compound, be transferred to savings or otherwise be withdrawn, penalty free.

Your Share Certificate will automatically renew with the same term at the current interest rate. (excluding specials)  You have a grace period of 10 calendar days to cancel or change the account. We’ll send you a maturity notice before renewal. Please read it carefully. If we change the type, term or other features of your Share Certificate, we will notify you of the change on the maturity notice.

We also offer IRA Share Certificate’s. These are certificates that are held in a tax-advantaged Individual Retirement Account, or IRA. Click here for more information about all of our IRA options.


Fees and penalties


Most share certificate’s carry a fee or penalty for early withdrawals, before the maturity date. The fee amount depends on the term of the certificate and is paid at the time of withdrawal, whether the dividends have been earned or not.

  • For share certificate terms of one year or less the penalty is equal to 90 days worth of dividends.
  • For share certificate terms greater than one year the penalty is equal to 180 days worth of dividends.

Please take note of the potential fee for a particular account before choosing to withdraw early. The withdrawal fee may outweigh the benefits of taking the money out immediately.



Contact a Financial Services Representative at (800) 445-3328 for more information.



Federally Insured by NCUA