A family enjoys financial security thanks for a Savings Certificate.

Dedicated Savings Certificates

Set up automatic transfers into your account and reach your target with ease.

 

OPEN YOUR CERTIFICATE

A CERTIFICATE DESIGNED TO HELP YOU SAVE

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!

An older couple work out how much to transfer to their savings certificate each month.

 

BENEFITS OF SAVINGS CERTIFICATES

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. 

  • Earn higher interest rates than regular savings based on current Certificate Rates.
  • Variety of term lengths from 3 to 60 months to match your goals and ideal time frame.
  • Open an account with a $10 minimum deposit.
  • Make monthly deposits of at least $10 (required).
  • Enjoy the convenience of automatic transfer or payroll deduction (required).
  • Make one manual transfer of a maximum of $10,000 per month.
  • Interest is computed daily and paid monthly.
  • When your term ends, you can withdraw all your funds or reinvest in another Certificate.
  • Funds are insured by the National Credit Union Administration (NCUA) up to $250,000.

OPEN YOUR CERTIFICATE

Certificate Rates

Term
APY
Dividend
Minimum
Paid
12 Month
5.30%
5.18%
$500
Monthly

THE DEDICATED SAVINGS CERTIFICATE DIFFERENCE

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: 

  • Direct Deposit.
  • Automatic Transfer.
  • Payroll Deduction.
  • One Manual Transfer per month up to $10,000.

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.

OPEN YOUR CERTIFICATE

A woman smiling while watching how much her money is growing in her savings certificate.

 

HOW TO OPEN A SAVINGS CERTIFICATE ACCOUNT

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.

GET STARTED

Their staff is always friendly and helpful
Lisa R., Ogden, Utah

WHY CHOOSE WASATCH PEAKS CREDIT UNION?

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 family enjoys a hike in Utah after opening an account at Wasatch Peaks Credit Union.

 

SAVINGS CERTIFICATES FAQ

  • How is a Dedicated Savings Certificate different from a regular Certificate Account?

    A Certificate Account is known as a certificate of deposit (CD) at some other financial institutions. A Dedicated Savings Certificate is a kind of CD 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.

    • You can make a deposit of at least $10 per month by direct deposit, automatic transfer, or payroll deduction. 
    • You may also make one manual deposit per month, up to $10,000.

    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.

  • What is a Certificate term, and what do I do when it ends?

    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.

  • Do I need to join Wasatch Peaks Credit Union to open a Certificate Account?

    Yes, you need to join the credit union, and becoming a member is easy! You simply need to meet these criteria:

    • You are an immediate family member of an existing member-owner, such as a parent, child, brother, sister, spouse, or surviving spouse.
    • You live, work, worship or attend school in Weber, Morgan, or Davis Counties in Utah.

     

TAKE THE NEXT STEPS TO SECURE YOUR CHILD'S EDUCATION

OPEN YOUR CERTIFICATE

Call: 801-627-8700

Contact Us

MORE WASATCH PEAKS SAVINGS OPTIONS

Traditional IRAs

An ideal way to save for the long term. Contributions are tax deductible so you pay regular income tax on withdrawals after age 59½.

Learn More

Savings Accounts

A Primary Savings Account opens the door to all our other quality products and services. Start your credit union journey with a deposit of just $5!

Learn More

Money Market Accounts

Earn higher rates than regular savings with more accessibility than a certificate. Best of all, your rates increase as your balance reaches milestone amounts.

Learn More