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
Share CertificatesRates Effective April 1, 2020
|Certificates Available||Dividend Rate||APY||Term
|6 month Share Certificate||0.80||0.80||6 Months|
|12 month Share Certificate||1.30||1.30||12 Months|
|24 month Share Certificate||1.80||1.81||24 Months|
|Mini-Jumbo Share Certificate|
$50,000 Minimum Balance Required,
|Save to Win Share Certificate|
$25 Minimum Balance Required,
|All Certificates require a minimum $500 minimum balance unless otherwise stated. APY = Annual Percentage Yield
All Dividends Paid Quarterly. Early withdrawals & associated penalties may affect your dividend earnings.