A Certificate Account pays a higher interest rate than a savings account. Certificates are less liquid than a share savings account, meaning you must invest your money for a specific length of time: six months to five years. The longer the Certificates deposit time, the higher the interest rate. If you withdraw your money early, you pay a penalty (see our membership and account agreement for penalties). Cyprus Credit Union Certificates are federally insured to $250,000 by the NCUA. You can open a Certificate for $1,000 or more.
Rest easy knowing that saving money is now so simple. Open your Dream Certificate with just $1 and add any amount you choose while earning regular certificate rates. Your deposits will be automatically transferred to your Dream Certificate every month or every paycheck.
Ways to Fund Your Dream Certificate
Automatically deposit into your Dream Certificate while making your monthly loan payment. For example, if your loan payment is $300, pay $350 with an automatic payment or payroll deduction. Every month we'll put the extra amount in your Dream Certificate.
If you receive a raise or bonus from your employer invest your increase in a Dream Certificate.
Save for your children or grandchildren. A Dream Certificate is perfect for college funds, weddings, down payment on a home, etc.
If you usually receive a tax refund you can adjust your W-4 withholdings to take out less each paycheck. You can then invest the difference in a Dream Certificate at a great interest rate rather than paying the government and receiving zero interest.
Fund an initial Dream Certificate deposit with part of your tax refund. If you Direct Deposit your Federal tax refund, you can split it into as many as 3 different accounts. Use IRA Form 8888. You will need our Routing Number (3243 77 202) and your account number.