How does a Certificate Account differ from a CD (certificate of deposit)?

A Certificate Account works the same way as a traditional CD (certificate of deposit): you choose a term, deposit your funds, and lock in a fixed APY for the full term. The main difference is the label. Many banks call this a CD. At Quorum, it’s called a Certificate Account.

Is the APY (annual percentage yield) fixed for the full term, or can it change?

When you open a Term Savings account, your APY is locked for the full term, so you don’t have to worry about market swings or rate changes midstream.

How much do I need to open a Certificate Account?

The minimum deposit to open a Certificate Account is $100. Some terms offer a higher APY at higher balances, and certain terms may have specific funding requirements.

Are my funds insured with Quorum?

Your Quorum accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government. Depending on how your accounts are owned and what types of accounts you have, you can potentially increase the total insurance on your funds to greater than $250,000.

What do I do when my Certificate Account is near maturity?

Similar to a CD Maturity Notice, a Share Certificate Maturity Notice will be sent via mail or email for eStatement users 30 days prior to maturity. At maturity, you will have seven calendar days to decide whether to withdraw, re-invest, or roll over automatically for the same term, at the current dividend rate (penalties apply for early withdrawal). You can manage your maturity settings online or via the mobile app. Once logged in, simply select Account Services from the main menu, then Term Maturity Settings to manage your accounts.

Can I add more money after my Certificate Account is opened?

No. You fund your account upfront when you open it, and you can’t add additional funds after it’s opened. If you plan to keep contributing, a high-yield savings account might be a better fit.

Can I withdraw funds early, and is there a penalty?

Yes, you can withdraw early, but an early withdrawal penalty applies if you take funds out before maturity.

What happens when my term ends (does it automatically renew)?

You’ll receive a maturity notice about 30 days before your term ends. At maturity, you have a seven-calendar-day grace period to decide what you want to do, such as withdraw, reinvest, or let it roll over. If you don’t choose, it will roll into a comparable term at the current rate.

I have more than $250,000 in deposits at Quorum. How do I check to see if it is insured?

If you have more than $250,00 in deposits and are concerned that your savings may not be fully insured by the NCUA, you can check the Share Insurance Estimator here to understand what is insured and what portion (if any) exceeds coverage limits. Depending on how your accounts are owned and what types of accounts you have, you can potentially increase the total insurance on your funds to greater than $250,000 through multiple account owners or trusts with beneficiaries.

How long is the grace period to roll over my Certificate Account?

Certificate Account (similar to CDs) have a seven-calendar-day grace period from the maturity date.

Earn up to 4.35% APY¹ with a Certificate Account.

Like a Certificate of Deposit (CD), Certificate Accounts (also known as Term Savings Accounts) give you high-yield savings rates for a fixed term.

Investopedia just ranked our 6- and 12-month accounts #1 in the country!

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Top Certificate APYs today.

12-Month Certificate

4.35 % APY¹

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Minimum balance to open and earn APY (4.27% dividend rate): $100

6-Month Certificate

4.30 % APY¹

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Minimum balance to open and earn APY (4.22% dividend rate): $100

48-Month Certificate

4.15 % APY¹

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Minimum balance to open and earn APY (4.07% dividend rate): $100

Why open a Certificate Account?

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Higher APY you can lock in

Earn a higher dividend rate than you would with a liquid account. Just like a CD, your rate is guaranteed for the full term.

Easy online setup

Open accounts in minutes, manage your term maturities in one easy platform.

Federally insured

Funds are federally insured up to $250,000.

Safe from market volatility

Earn predictable returns, free from market risks.

Open an account online in less than 5 minutes.

As with any credit union, membership is required in order to take advantage of credit union products and services. Membership is free and included in the online application. We’ll guide you through this every step of the way.

You’ll need: A valid ID, your Social Security number, and your bank account information to fund your account during the application.

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"Great rates and service. I recently opened a high-yield savings account with Quorum. The process was easy, online banking was comprehensive, and the rate and service were fantastic!"

panslif12

"Quorum has been my primary bank for over 5 years, where they do NOT disappoint. Not only do they offer the best interest rates with the HighQ Savings and term CDs, they are also prompt to provide answers to any questions."

Sonja M.

"We feel so much more secure with a federal credit union than a commercial bank. Great staff and the customer service is always patient and helpful. Rates on interest-bearing accounts are great, too. I’m glad we found Quorum."

Kathy C.

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A Few Things You Should Know

¹Annual percentage yield (APY) and rates are in effect as of 08/20/26. Certificate Accounts are fixed-rate accounts. Dividends are compounded and paid monthly. A minimum deposit of $100 is required to open and earn the APY. A penalty will be imposed if funds are withdrawn prior to maturity date. Fees could reduce earnings. Deposits of $100,000 or more earn an additional 0.10% APY for the 18- and 24-Month Certificate Accounts only.

Earn 4.35% APY* on a Certificate Account.

15-Yr Fixed Mortgage

100% Online Estate Accounts

Earn up to 4.35% APY1 with a Certificate Account.

Top Certificate APYs today.

12-Month Certificate

6-Month Certificate

48-Month Certificate

Why open a Certificate Account?

Higher APY you can lock in

Easy online setup

Federally insured

Safe from market volatility

Ready to open an account?

Open an account online in less than 5 minutes.

Log in to open an account.

Trusted by financial experts.

panslif12

Sonja M.

Kathy C.

Lock in your earnings with a Certificate Account.

Tips that help you make the most out of your money.

How to Live on One Income (Even if You Have Two!)

How to Take Charge of Your Health Care Costs

How to Talk About Money With Your Partner

15 Important Financial Steps to Take After a Spouse Dies

Financial Steps to Take During (And After) a Divorce

Credit Vs. Debit: Which Card is Best?

Summer Vacations: Planning Early Can Save You Money

The Basics of Social Security Retirement Benefits

Five Reasons Why Cash Makes a Good Graduation Gift

Certificate Account FAQs

How does a Certificate Account differ from a CD (certificate of deposit)?

Is the APY (annual percentage yield) fixed for the full term, or can it change?

How much do I need to open a Certificate Account?

Are my funds insured with Quorum?

What do I do when my Certificate Account is near maturity?

Can I add more money after my Certificate Account is opened?

Can I withdraw funds early, and is there a penalty?

What happens when my term ends (does it automatically renew)?

I have more than $250,000 in deposits at Quorum. How do I check to see if it is insured?

How long is the grace period to roll over my Certificate Account?

A Few Things You Should Know

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Earn up to 4.35% APY¹ with a Certificate Account.