Planning for the future for your business can include balancing between savings and investments. Sharonview offers short term and longer term Certificates of Deposit to help your business find that balance. Your business will get a stronger, guaranteed rate of return when you open a Business Share Certificate.
You business has different options, depending on the goals. Some business maximize their options by opening several Share Certificates that mature at different times, a strategy known as laddering. This allows money to be available when needed, while leaving other funds in savings to keep earning dividends. When the Share Certificates mature, your business can choose to withdraw money or keep it deposited for another full term.
You may know this type of account as a CD or Certificate of Deposit, as that is how banks refer to these accounts. As a credit union, however, we refer to these accounts as Share Certificates, because as a member-business-owner of Sharonview you are also a Shareholder in Sharonview. You business earns dividends off of these share accounts, and not interest, like you would on a depository account at another institution.
Business Certificate Rates ($500+ Balance)
| Type | Dividend Rate | Annual Percentage Yield |
| 12 Months3 | 4.114% | 4.20% |
| 24 Months3 | 2.713% | 2.75% |
| 36 Months3 | 2.225% | 2.25% |
| 48 Months3 | 2.956% | 3.00% |
| 60 Months3 | 3.053% | 3.10% |
Dividend Rates and Annual Percentage Yields (APYs) are accurate as of May 24, 2023.
* The business owner or an official signor of the business must first be a member of Sharonview Federal Credit Union to open a business membership.
*Average Monthly Collected Balance: The average monthly collected balance is calculated by adding the collected balance for each day of the statement period and dividing that figure by the number of days in the statement period.1The monthly maintenance fee can also be waived with a minimum daily collected balance of $1,500 or more in a Business Savings Account, a Business Money Market Account, or a Standard l Business Checking Account.
3. Business Certificate Accounts:
Business Certificates - minimum balance of $500 required. Penalties may be imposed for early withdrawal as follows: certificate terms of one year or less will forfeit 90 days dividends; terms greater than one year up to five years forfeit 180 days dividends; terms greater than five years forfeit 365 days dividends. The penalty will, if necessary, be taken from the principal amount of the deposit.
Rates are subject to change at any time without notice. APY = Annual Percentage Yield. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in your account for the Period. The average daily balance is calculated by adding the balance in your account for each day of the Period and dividing that figure by the number of days in the Period. For all accounts, the dividend period begins on the first calendar day of the month and ends on the last calendar day of the month; dividends are compounded daily and credited monthly. For Certificates, the APY assumes dividends remain in the account until maturity; a withdrawal will reduce earnings. Certificates will automatically renew at maturity after a grace period of 5 calendar days. Share/Savings, Checking and Money Market Accounts rates may change at any time after the account is opened, based on the determination of the Credit Union’s Board of Directors. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. The Dividend Rate and APY set forth in this schedule are prospective rates and yields the Credit Union anticipates paying for the applicable dividend period. Dividends will not be paid if an account is closed before accrued dividends are credited. Fees may reduce earnings. Certificate terms of one year or less will forfeit 90 days dividends; terms greater than one year up to five years forfeit 180 days dividends; terms greater than five years forfeit 365 days dividends. The penalty will, if necessary, be taken from the principal amount of the deposit. The par value of a regular share in this credit union is $5. Refer to your Membership Agreement and Disclosures for complete terms and conditions. Insured by NCUA.