A Share Certificate, also known as a Certificate of Deposit (CD), is a secure investment offered by credit unions. It represents a share in the credit union - when you open a Share Certificate with Excel Federal Credit Union, you invest your money for a fixed period in return for a guaranteed dividend rate. Share Certificates allow you to grow and secure your money with a trusted financial institution like Excel Federal Credit Union.

The minimum deposit required to open a Share Certificate account with Excel FCU is $500.

Yes, the rates for Share Certificates are subject to change. These are limited-time promotional rates, and Excel FCU encourages members to act promptly. For the most up-to-date information, consult the rate page on the official website.

Dividends for Share Certificates at Excel FCU are calculated based on fixed rates and compounded quarterly. This ensures that members enjoy a steady and predictable source of income.

By addressing these frequently asked questions, Excel FCU aims to provide clarity and transparency, reinforcing its commitment to excellent member service.

Now that you understand the benefits of Share Certificates, the next question is, "Which certificate is right for you?" Excel FCU emerges as the standout choice for several reasons.

If you're considering investing in a Certificate of Deposit (CD) at a credit union, one crucial question often comes to mind: Are credit union CDs FDIC-insured? To fully understand this, let's delve into the differences between the FDIC and NCUA, the organizations safeguarding your deposits.

The Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) both serve critical roles in safeguarding people's money, but their scopes are quite distinct. The FDIC, created in 1933 during the Great Depression, insures traditional bank deposits against bank failure, restoring public confidence in the banking system after waves of bank closures wiped out many Americans' savings. Its insurance applies to checking, savings, money market, and CD accounts at FDIC-member banks up to $250,000 per depositor, per insured bank.

The NCUA, formed in 1970, plays a parallel role for credit unions, which are nonprofit financial cooperatives owned by their members. It insures credit union savings in the event of failure up to the same limits as the FDIC. Understanding this key difference between the FDIC and NCUA is essential for consumers - it clears up which agency has your back depending on whether you bank at a credit union versus a commercial, for-profit bank.

Similar to the FDIC for banks, the NCUA provides robust insurance for accounts held at credit unions, protecting members in case of institutional failure. All federal credit unions and the vast majority of state-chartered credit unions carry NCUA insurance. The NCUA collects insurance premiums from insured credit unions to build its insurance fund, ensuring reserves are on hand to pay members' covered shares if a credit union should go under. This system gives credit union members confidence that their nest egg and livelihoods won't disappear even in worst-case scenarios.

Beyond insurance, the NCUA also sets regulations, conducts credit union examinations, monitors overall industry health, and provides consumer financial education. By carrying out this broad suite of oversight responsibilities, the NCUA establishes guardrails intended to minimize credit union failures in the first place. Credit unions report financial data and risk measurements to the NCUA quarterly, supporting the NCUA's data-driven and risk-focused supervision.

The NCUA insures a wide array of credit union accounts:

• Savings
• Checking
• Money market
• Certificates of deposit (CDs)
• Certain retirement accounts

NCUA share insurance protects members against losses if their federally insured credit union fails. Covered accounts include regular shares (savings), share drafts (checking), money market accounts, and share certificates (CDs). Retirement accounts such as IRAs are also covered. As with FDIC coverage limits, each individual credit union member's deposits are insured up to $250,000 by the NCUA. This includes principal and any accrued dividends in share accounts. Joint accounts may qualify for $250,000 coverage per co-owner.

Share certificates, known as CDs in the banking sphere, are a common way credit union members lock away money to earn higher guaranteed returns over a set period of time - returns typically more favorable than regular share savings and checking. The NCUA backs all CDs issued by federally insured credit unions up to $250,000, meaning members can confidently lock up larger sums knowing their investment and interest earnings alike are protected even if catastrophe strikes their credit union. Between competitive rates and robust NCUA insurance safeguards, credit union CDs offer an appealing option for many savers and investors.

Both banks and credit unions offer a level of safety for your deposits, thanks to the protection provided by the FDIC and NCUA, respectively. The safety of your funds largely depends on your preference for banking with a commercial bank or a credit union. Credit unions, like Excel Federal Credit Union, offer unique benefits that might align better with your financial goals.

Share Certificates
• Offered at nonprofit financial cooperatives owned by members
• Tend to deliver more personalized service and more flexibility
• Typically pay higher interest rates thanks to greater efficiency and member orientation. - Average yields often surpass those of commercial bank CDs
• May provide consumer-friendly options like bump-up share certificates to raise rates amid rising market rates

Commercial Bank CDs
• Offered at for-profit banks aiming to maximize profits
• Focus more on providing a wide array of financial products vs specialized account guidance
• Tend to offer lower interest rates on CDs than credit unions
• Terms tend to be more rigid and less customizable

Bottom line differences:

Credit Union Share Certificates
• Higher rates
• More flexibility
• Personalized guidance

Commercial Bank CDs
• Lower rates
• Less flexibility
• Broader product suite

When choosing where to open a CD, consider interest earnings potential alongside service levels and convenience. Credit union share certificates often win on rates and service while banks excel in product selection.

Excel FCU's Share Certificates offer competitive rates, flexible terms, and the security of a federally insured deposit. Whether you prefer short-term or long-term investments, our certificates provide a reliable way to grow your money.

Withdrawing funds from a share certificate before the term renewal date may incur an early withdrawal penalty fee. It's essential to carefully consider your financial needs and the terms of the certificate before making a withdrawal.

Yes, Excel FCU membership is open to individuals who live, work, worship, or attend school in Forsyth, Fulton, Gwinnett, and Hall counties. Additionally, immediate family members of current members are eligible to join.

Yes, the rates for share certificates at Excel FCU are subject to change. It's advisable to consult the rate page regularly for updates on promotional rates, terms, and additional information.