Share Certificates and Youth Share Certificates are like savings accounts with different rules. Savings accounts offer more flexibility when it comes to withdrawing your money, but Share Certificates generally yield a better return on your investment. Share certificates require you to leave your funds in the account for a predetermined time period, usually between three months to five years. In general, the longer the length of your share certificate, the better your rates will be.
Picking the Right Share Certificate for Your Financial Goals
Standard Share Certificate
A standard share certificate is a smart way for folks living near San Bernardino and Riverside County, CA, to start saving. Alta Vista offers competitive rates that will help you increase your passive income so you can start saving funds for a home, a family, your retirement, and more. The length of your share certificate can range anywhere from six months to five years (6-60 months). The longer the length, the better the rate.
Rates are fixed during the term of your certificate. Interest is computed on the daily balance and credited to your account monthly. There is a minimum balance requirement of $1,000 to open any share certificate account.
Youth Share Certificate
Youth share certificates are Ideal for youngsters who want to start saving for the future. Anyone up to 17 years old is eligible for an Alta Vista Youth Share Certificate, which can last anywhere from six months to two years. Alta Vista offers competitive rates to help you (or your child) get a head start on establishing long-term financial security.
Rates are fixed during the term of your certificate. Interest is computed on the daily balance and credited to your account monthly. There is a minimum balance requirement of $250 to open any youth share certificate account.
Traditional & Roth IRA Share Certificates
These are similar to other Share Certificates, but IRA Share Certificates offer tax benefits. With a traditional IRA, the money you invest is tax-deductible — however, your withdrawals are taxed in retirement. A Roth IRA, on the other hand, requires that you pay taxes on your deposits — but in retirement, your withdrawals are tax-free.
*Maximum IRA Certificate to earn the stated APY is $50,000. Share Certificate Account rates will apply to any additional funds deposited as IRA certificates.
Ready to start saving?
Pay a visit to your local Alta Vista branch in Redlands or Rialto, CA, for more information about our first-rate financial services.
If you or a loved one need help establishing long-term financial security, don’t hesitate to contact us today so you can set up an appointment with one of our industry-leading financial advisors.