MoneyWise Certificates offer the high rate of a certificate with flexibility more like that of a typical savings accounts. These certificates have a 12-month term, but allow kids – or their parents – to add money to the account throughout the year.
Effective January 1, 2022 (rates subject to change)
||Minimum Opening Deposit
||Annual Percentage Yield (APY)*
|MoneyWise Certificate (12 Month)
*APY: Annual Percentage Yield. Fees could reduce the earnings on the dividend bearing accounts.
**Minimum balance to open a certificate if you are under 18 years old is $25. Minimum balance to open a certificate is $500 for 18+ years old.
The required minimum balance to open a certificate is $500. If you are under age 18, the minimum balance to open is $25. Automatic renewable certificate accounts have a ten business day grace period after the maturity date to withdraw or close the account. Accrued dividends will be paid during the ten day grace period. For certificate accounts that do not automatically renew at maturity, dividends will no longer be paid. The APY assumes that dividends will remain in your account until maturity. Penalties may be imposed if you withdraw any of the principal in your account before the maturity date. The penalty will equal 90 days’ dividends on your account if the original term is one year or less. The penalty will equal 365 days’ dividends on your account if the original term is greater than one year. If a certificate is withdrawn within six calendar days after the account is opened, a penalty of at least seven days dividends will be assessed. If the account is part of an IRA, see your plan disclosure for details on penalty exceptions. IRA certificates are not available in three and six month terms. The dividend period is quarterly. For example: the first dividend period of the calendar year is January 1 through March 31. All other dividend periods follow this pattern of dates. The dividend declaration date is the ending date of a dividend period, such as March 31. Dividend rates on certificates will be in effect until the maturity date. 12 month MoneyWise certificate will be converted to a regular 12 month certificate on the maturity date immediately following the 18th birthday of the primary member. Additional deposits may be made throughout the term of the MoneyWise certificate.