Certificate Calculator

Ready to lock in a higher dividend rate on savings?

Use our calculator to find out how much you can earn in dividends with a certificate.



What is a certificate account?

A certificate is a type of savings account that provides higher dividend rates than a traditional savings account. In a certificate, there are minimum deposit requirements and set terms, meaning you cannot access the funds within the account before your term is up. 

Credit unions offer certificates or share certificates while banks offer CD, or certificates of deposit. 

What happens if I need to access my money before my term is up?

If you need to access the money within your certificate before your set term, you will need to pay a penalty for early withdrawal. 

Is a certificate taxable?

Yes, the dividends you earn on your certificate will be taxed by the state and federal government, just like with a traditional savings account. 

Can a certificate account lose money?

Certificate accounts do not have the potential to lose money like other forms of investing. When you open a certificate, you lock in a dividend rate throughout the length of your term, and any certificate account opened with a credit union is insured by the NCUA up to $250,000.

What is a certificate renewal?

A certificate matures when you reach the end of your set term. When your certificate matures, you can choose to move the money elsewhere, or renew your certificate for another term. Many financial institutions, including Southland, automatically rollover your certificate to a new certificate if you do nothing when the original certificate matures. 

What is the difference between interest and dividends?

Dividends is a term used by credit unions, while interest is a term used by banks. 

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