October 24, 2024One-Minute Read: Are Credit Union CDs Safe?

Credit unions call them “share certificates,” and yes, credit union share certificates are safe. Just like banks, credit unions insure their certificates. If your credit union is federally insured by the National Credit Union Administration (NCUA), your certificates are protected up to $250,000 per depositor, per account type, making them just as secure as bank CDs insured by the FDIC. 

In addition to safety, credit unions often offer higher interest rates on certificates than traditional banks. So, not only is your money protected, but you could also see better returns on your investment. Click here to see current PEFCU certificate and deposit rates. 

In summary, credit union share certificates are a low-risk, reliable way to grow your savings.