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Share Certificates


Savings accounts are a great way to save for the future, but share certificates allow you to lock in a higher rate for period of time and earn more on your funds than a traditional savings account. 

Merck Employees FCU offers a competitive savings account rate that fluctuates quarterly. With a share certificate, you can lock in a specific rate for a set amount regardless of quarterly fluctuations. 

In order to open a new certificate account, you need to be a member in good standing with the credit union and have a minimum deposit of $2,500. Once opened, funds cannot be added to the certificate and early withdrawals forfeit all interest earned. 

  • $2,500 minimum balance required

  • Dividends paid at time of maturity

  • Access to your account information any time through online or mobile banking

Current Offers:

Product Rate APY
6 month Certificate*   3.85%     3.92%    
6 month IRA Certificate* 3.85%     3.92%    

Please note certificate offers and rates are subject to change at any time. 
*The minimum balance to earn dividends on certificates and IRA certificates is $2,500.00


Open a New Share Certificate Account

Understanding the APY on Your Savings

When you deposit money into an account, the money earns interest. Interest rates on savings accounts and certificates can change based on an agreed upon date. Merck Employee FCU’s savings account rates traditionally change quarterly, though they can be changed more frequently based on market conditions. CD offers from the credit union will also change based on market conditions.

The interest rate is used to determine how much interest the certificate or account earns each day. It is paid at the agreed upon time, quarterly in the case of the credit union’s savings accounts, or at the time of maturity like CDs.

APY stands for Annual Percentage Yield, which is the amount of interest, shown as a percentage, you will earn if you keep your money in a savings account or certificate for a year. APY takes into account not only interest but also the rate at which it compounds.

APY is used to show the rate of return on funds over the course of a year.

Below is an example of how compounding impacts the APY and why it is relevant even on 6-month certificates currently being offered by the credit union.