In today’s financial landscape, with higher interest rates and soaring inflation, you may want to park your savings in a place that offers your money its biggest chance at growth without risking a loss. If you’re looking for a way to earn interest on your savings while keeping your cash secure, a certificate account with Ascend can be a fantastic option. These accounts, which function the same as a Certificate of Deposit (CD) at other financial institutions, offer the best of both worlds when it comes to savings — blending higher rates you’d expect from a stock with the security of a savings account.

Here’s everything you need to know about Ascend’s certificate accounts:

What is a Certificate Account?

A certificate is a specialized deposit account where you set aside your money for a certain amount of time in exchange for a better rate. Certificate accounts traditionally have a higher savings rate than that of a basic savings or checking account. Ascend offers certificate accounts that can be opened with a deposit as low as $500. At Ascend, our certificates are compounded monthly, and there are no setup or maintenance fees associated with the account.

Is a certificate account right for me?

A certificate account is best for individuals who already have a separate emergency fund to cover any surprise expenses. Before you open a certificate, make sure you won’t need to access the funds before the maturity date. You can use a certificate to save for a variety of goals — a family vacation, holiday gifts, or simply to boost your savings.

What term options do I have with an Ascend certificate?

We offer terms from six months to five years, so you can choose the certificate that best suits your financial goals.

Will my certificate account ever lose its value?

No. Ascend certificate accounts are insured by the National Credit Union Association (NCUA) for up to $250,000. One of the most attractive features of a certificate is their fixed interest rates. In a time of fluctuating market conditions, having a guaranteed return on your investment is a valuable advantage.

Can I withdraw my deposit before the term is completed?

Yes, but you may be subject to a penalty. For more information view our disclosures.

What happens when the certificate account matures?

Certificates automatically roll over on the maturity date to a new certificate with the same prevailing rate unless the member chooses a different option. There is a grace period of seven days to allow you to withdraw, deposit or change the terms on the account.

I want to open a certificate account with Ascend. What next?

Head to our certificates page to check out all our different terms, minimum deposits, and current interest rates. Also be sure to check out the different types of certificates Ascend offers so you can choose the right account for you. For more information, check out our free course on certificate accounts.

With fixed interest rates, flexible term options, and a guaranteed return, certificate accounts offer a compelling alternative to other investment avenues. Whether you are a seasoned investor or someone just beginning their financial journey, exploring the benefits of a certificate account can be a prudent step toward achieving your financial goals.

Please see our Share Certificate Account Disclosure for more details