How a Savings Certificate from Encompass Can Help You Achieve Your Goals

Are you looking for a way to boost your savings and reach your financial goals here in Indiana? Look no further than Encompass Credit Union's Savings Certificates!

What is a Savings Certificate?

A Savings Certificate, also known as a Share Certificate at most credit unions or a Certificate of Deposit (CD) at most banks, is a secure savings account that offers a guaranteed interest rate over a fixed term. This means you lock in your money for a specific period, typically ranging from a few months to several years, and earn a competitive interest rate.

Benefits of Savings Certificates from Encompass Credit Union:

  • Grow Your Savings Faster: Earn a higher interest rate on your savings compared to a traditional savings account.

  • Plan Ahead with Confidence: Knowing your interest rate upfront allows you to plan for future expenses or milestones confidently.

  • Variety of Terms: Choose a term that aligns with your goals, whether saving for a down payment on a house in Indiana or a dream vacation in a few years.

  • Security and Stability: Your funds are federally insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $250,000 per depositor.

  • Commitment to Your Success: Encompass Credit Union is committed to helping our members succeed financially. Our knowledgeable staff is here to answer your questions and help you choose the right Savings Certificate for your needs.

Savings Certificates vs. Certificates of Deposit (CDs):

Savings Certificates at credit unions offer similar benefits to CDs at traditional banks. However, there are some key differences:

  • Ownership: Credit unions are member-owned cooperatives, meaning you're not just a customer but a co-owner. This translates to a focus on member service and competitive rates.

  • Profit Sharing: Unlike banks that distribute profits to shareholders, credit unions often return profits to members through higher interest rates on Savings Certificates and lower loan rates.

Who Should Consider a Savings Certificate?

Savings Certificates are a great option for anyone looking to:

  • Grow Their Savings For a Specific Goal: Whether it's a new car, a child's education, or a comfortable retirement, a Savings Certificate can help you reach your target amount faster.

  • Earn a Predictable Return: The fixed interest rate provides stability and allows you to forecast your future savings accurately.

  • Improve Financial Discipline: Locking away your funds for a set term discourages unnecessary withdrawals, helping you stay on track with your financial goals.

Ready to Take Control of Your Savings?

Encompass Credit Union offers a variety of Savings Certificates to fit your individual needs. Visit our website to learn more about current rates and terms, or stop by any of our branches in Indiana to speak with a member service representative. You can also find additional information on rates and fees.

Let Encompass Credit Union be your partner in achieving your financial goals! If you have any questions, please don't hesitate to contact us.

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