Certificates are specific amounts of money invested for a specified amount of time. Lion's Share offers various rates and terms to suit your investment needs.
The minimum balance to open a certificate is $500.00. Dividends are paid quarterly and are based on the certificates average daily balance for that three-month period. Dividends can be added to the certificate or paid into a separate share account if you prefer.
Certificates are automatically renewed unless you let us know you in advance. A notice of renewal reminder is sent out approximately one month prior to the renewal date. Once a certificate is opened, additional deposits are allowed only during the renewal process. Withdrawals can be made to share certificates during the renewal period without penalty.
Should you need to close a share certificate prior to the end of term, an early withdrawal penalty will be charged. Share certificate early withdrawal penalties are:
- 6 or 12 month Share Certificate = 30 Days of Dividends
- 24 month Share Certificate = 90 Days of Dividends
- Mini-Jumbo Share Certificate = 6 Months of Dividends
- Save to Win Share Certificate = 1st W/D = $25 Penalty
2nd W/D = Account Closure
Certificates
| Certificates | Rate (APR) | APY* | Term |
|---|---|---|---|
| Share Certificate 6 month | 1.00 | 1.00 | 6 Months |
| Share Certificate 12 month | 1.50 | 1.51 | 12 Months |
| Share Certificate 24 month | 2.00 | 2.02 | 24 Months |
| Mini-Jumbo Share Certificate $50,000 Minimum Balance Required Limited Time Availability | 2.10 | 2.12 | 12 Months |
| Save to Win Share Certificate 12 month $25 Minimum Balance Required | 0.50 | 0.50 | 12 Months |
| All Certificates require a minimum $500 minimum balance unless otherwise stated. Dividends Paid Quarterly APR = Annual Percentage Rate APY = Annual Percentage Yield |
|||