Our Dedicated Savings Certificate is the ideal account if you're serious about achieving your savings goals. Unlike other Certificates, after your initial deposit, you need to make ongoing monthly deposits of at least $10 using direct deposit, automatic transfer, or payroll deduction. You may also make a manual deposit of up to $10,000 each month for times when you get a tax refund, a bonus, or another source of extra cash. Choose your term and watch your dollars grow!
A Dedicated Savings Certificate offers a great way to save through the convenience of direct deposit. Choose your goal, determine the amounts needed to reach that goal, and then set up automatic transfers to your account.
Dedicated Saver Certificate: Save for specific goals in mind. Automatic transfer of $10 per month is required. You may make a manual transfer of a maximum of $10,000 per month to your existing Dedicated Saver Certificate.
Bump Option: Available on all Regular & IRA Certificate Accounts. Rate is .15% points less than the stated rate.
*Flex Certificate: Great rate with more liquidity than money market accounts. Allows withdrawals the first three (3) business days of each quarter (January/April/July/October). The maximum limit of Flex Certificate is $100,000 with a maximum deposit of $10,000 per month.
*Certificate Special: Annual Percentage Yield (APY) Special rates apply to new deposits only for share certificate of deposits, IRA contributions or rollovers to IRA certificate of deposits. The new rate will remain in effect until the certificate maturity date. A penalty may be imposed for withdrawals before maturity. May not be combined with other rates or offers. The offer is valid for a limited time only.
Most Certificate accounts don't let you add more funds after you make your opening deposit.
Our dedicated Savings Certificate offers four convenient ways for you to make ongoing deposits into your account:
It's a great way to save for an emergency fund or a down payment on a home – and it's safer than the stock market.
Step 1 |
Join Wasatch Peaks Credit Union Check you meet our membership criteria and open a savings account with a deposit of just $5. |
Step 2 |
Select Savings Certificate Now you're a member, you need a deposit of just $500 to open your Savings Certificate account. |
Step 3 |
Set Up Your Automatic Transfers! Schedule ongoing deposits and earn great rates until you reach the end of your chosen term. |
Their staff is always friendly and helpful
When you open an account with Wasatch Peaks, you become a member of our cooperative and get a say in how we run things.
We're here to serve the people of Weber, Morgan, and Davis Counties, Utah – not spin a profit for outside shareholders.
We give our revenue back to you through low fees, competitive rates on loans, and generous yields on savings tools like our Educational IRAs.
Above all, we care about the members of our community and are proud to support our youth by partnering with local schools, organizations, and events.
A Certificate Account is similar to a certificate of deposit (CD) at some other financial institutions. A Dedicated Savings Certificate is a kind of Certificate that's built to help you save more, faster. You earn a higher annual percentage yield (APY) than a regular savings account. But unlike regular Certificates, you get to make ongoing deposits.
The best way to use a Dedicated Savings Certificate is to work out your monthly budget of income vs. expenses and then transfer as much as you can to your account throughout your chosen Certificate term. Keep in mind that you'll likely be penalized for early withdrawal of funds, so you stay on track.
The term is how long you agree to keep your account open and active. With regular certificates, you agree to leave your funds untouched for your chosen term, which can be from 3 months up to 60 months. A long term tends to earn higher rates, but some special terms may also earn higher rates.
The end of your Certificate term is known as the maturity date. At that time, you may withdraw all your funds or transfer your money to a checking account to spend however you want. Another great option is to reinvest your Savings Certificate funds into another Certificate account offering a higher, fixed interest rate.
You could also place your funds into another type of savings or investment account, like a Money Market account or an IRA. All these accounts are federally insured up to $250,000.
Yes, you need to join the credit union, and becoming a member is easy! You simply need to meet these criteria:
Wasatch Peaks Credit Union 4723 Harrison Blvd Ogden, Utah 84403
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