Saving for the Future? Here's How Certificates Can Boost Your Goals
When it comes to saving for the future, it can feel overwhelming to know which account is the right fit for your goals. That’s where our team steps in. At Kitsap Credit Union, we’re here to make financial decisions easier, with guidance tailored to your needs.
Meet John Park, our friendly Member Specialist from our Puyallup Branch who joined KCU in 2024. John is passionate about helping members with lending, budgeting, credit building, and finding the right savings options.
John answered some of the most common questions about certificates, from how they work to when they might be the right choice for your financial journey. Here’s what John shared:
Q: What’s a certificate and how does it work?
A: A certificate is a secure place to park your money for a fixed period in exchange for a fixed rate that is higher than a standard savings account. There's typically a fee for taking the money out early plus you'll be giving up the dividends you would have earned.
Q: Why would someone choose a certificate over another type of account?
A: Imagine putting money into a locked box that promises a bonus if you agree to stow your money away for a specific period, giving you a higher rate of return than a standard savings account. The primary difference between a savings or money market account and certificate is accessibility and penalty for early withdrawal. Certificates can help you achieve larger savings goals due to their higher rates and limiting your access to the funds.
Q: How do I know which certificate fits my financial goals?
A: You need to consider your timeline, potential need for the funds, and what the current rates are. Certificates can be a smart way to save for bigger goals like buying a car, a house, or any major expense you're planning for. And remember, our dedicated team of knowledgeable member representatives is always here to help you understand which account is right for you. You can book an appointment with our team online.
Q: What’s one piece of advice you’d give a member who isn’t sure where to start?
A: Start by deciding what you’re saving for and how long you’ll need to save. If your goal has a set timeline, a certificate could be a smart fit!
Ready to get started with a certificate today? Explore our options online.
Insured by NCUA
Meet John Park, our friendly Member Specialist from our Puyallup Branch who joined KCU in 2024. John is passionate about helping members with lending, budgeting, credit building, and finding the right savings options.
John answered some of the most common questions about certificates, from how they work to when they might be the right choice for your financial journey. Here’s what John shared:
Q: What’s a certificate and how does it work?
A: A certificate is a secure place to park your money for a fixed period in exchange for a fixed rate that is higher than a standard savings account. There's typically a fee for taking the money out early plus you'll be giving up the dividends you would have earned.
Q: Why would someone choose a certificate over another type of account?
A: Imagine putting money into a locked box that promises a bonus if you agree to stow your money away for a specific period, giving you a higher rate of return than a standard savings account. The primary difference between a savings or money market account and certificate is accessibility and penalty for early withdrawal. Certificates can help you achieve larger savings goals due to their higher rates and limiting your access to the funds.
Q: How do I know which certificate fits my financial goals?
A: You need to consider your timeline, potential need for the funds, and what the current rates are. Certificates can be a smart way to save for bigger goals like buying a car, a house, or any major expense you're planning for. And remember, our dedicated team of knowledgeable member representatives is always here to help you understand which account is right for you. You can book an appointment with our team online.
Q: What’s one piece of advice you’d give a member who isn’t sure where to start?
A: Start by deciding what you’re saving for and how long you’ll need to save. If your goal has a set timeline, a certificate could be a smart fit!
Ready to get started with a certificate today? Explore our options online.
Insured by NCUA
September 25, 2025