Put your business reserves to work with a fixed rate certificate.
A Business Share Certificate lets you commit a fixed amount for a fixed term and earn a guaranteed rate higher than a standard savings or money market account. The longer the term, the higher the rate. Dividends are compounded and credited monthly. Certificates renew automatically at maturity.
Business share certificate at a glance.
Here is a quick look at the key details before you open a Business Share Certificate so you can plan your commitment with confidence.
| Features | Details |
|---|---|
| Minimum Deposit | $1,000 |
| Terms Available | 6 months to 5 years |
| Dividend Compounding | Monthly |
| Dividend Crediting | Monthly |
| Automatic Renewal | Yes, unless instructed otherwise before maturity |
| Early Withdrawal | Subject to penalty |
| Insurance | Federally Insured by NCUA |
Certificate laddering for business reserves.
A laddering strategy gives you higher rates and periodic access to funds without committing everything to a single long-term certificate. Here is how it works.
Split your reserves across multiple certificates.
Rather than committing all your reserves to one term, divide them across multiple certificates with staggered maturity dates to balance earnings and flexibility.
Here is how it works in practice.
With $30,000 in reserves, open three certificates of $10,000 each at 1-year, 2-year and 3-year terms. As each matures, access the funds or roll them into a new certificate at the current rate.
A certificate matures every year.
Over time, laddering gives you access to a portion of your reserves each year while keeping the rest earning at the higher rates that longer terms provide.
Balance earnings and flexibility.
A laddering strategy achieves what a single certificate or savings account alone cannot. Our Business Team can help you think through which structure makes sense for your situation.
Everything you need to know about business certificates.
What is a Business Share Certificate?
A Business Share Certificate is a fixed-term deposit account that earns a guaranteed dividend rate for the length of the term. It is the credit union equivalent of a bank CD. In exchange for committing your funds for a set period, you receive a higher rate than a standard savings or money market account.
What is the minimum deposit?
The minimum deposit to open a Business Share Certificate is $1,000.
What terms are available?
Terms range from 6 months to 5 years. Longer terms generally offer higher rates.
How are dividends paid?
Dividends are compounded monthly and credited to your account monthly.
What happens when my certificate matures?
Unless you instruct us otherwise before the maturity date, your certificate will automatically renew for the same term at the then-current rate. You have a grace period at maturity to make changes, withdraw funds or adjust the term without penalty.
What happens if I need to withdraw early?
Early withdrawal is subject to a penalty. The amount of the penalty depends on the term of the certificate. Contact us for details on the specific penalty structure before opening a certificate if this is a concern.
Do I need a business membership to open a Business Share Certificate?
Yes. Business membership with Firefighters First Credit Union is required before any business account can be opened. Contact the Business Services team if you need help getting set up.
Are my funds insured?
Yes. All Firefighters First Credit Union deposit accounts are federally insured by the NCUA up to $250,000 per member, per ownership category.
Certificate accounts are subject to penalties for early withdrawal. These accounts are at a fixed rate until maturity. Fees can reduce earnings on an account. Dividends compounded monthly and credited monthly. Automatic renewal at maturity unless instructed otherwise before the maturity date.
Federally insured by NCUA.
View the Business Schedule of Fees »