Open a Share Certificate with Wescom Financial

What is a Wescom Financial Share Certificate?

A Wescom Financial Share Certificate is a type of savings account that pays a fixed dividend rate in exchange for leaving funds untouched in your account for an agreed upon period of time. Share Certificates typically offer higher returns than regular savings accounts and help members save toward long-term financial goals.

How does a Share Certificate work?

When you open a Share Certificate, you agree to keep your funds on deposit for a specific term. In return, you earn a fixed dividend rate for the duration of the certificate. Your savings grow through dividends while remaining secure and insured by the NCUA.

What certificate terms does Wescom Financial offer?

Wescom Financial offers a variety of certificate terms, including 3-month, 6-month, 12-month, 18-month, 24-month, 36-month, 48-month, and 60-month options. Term availability may be subject to change.

What is the minimum deposit required to open a Certificate Account?

The minimum opening deposit and minimum balance required to earn the advertised APY on most Wescom Financial Certificate Accounts is $500. College Saver Certificates require a minimum opening deposit and minimum balance of $250.

Are Wescom Financial Certificate Accounts insured?

Yes. Wescom Financial Certificate Accounts are federally insured by the National Credit Union Administration (NCUA) up to applicable limits.

Can I withdraw money from a Certificate Account before it matures?

Early withdrawals from a Certificate Account may be subject to a penalty. Review the account disclosures and terms before opening a certificate to understand any applicable penalties and restrictions.

Do Certificate Accounts earn higher rates than traditional savings accounts?

Certificate Accounts are designed to provide competitive dividend rates in exchange for keeping funds on deposit for a fixed term. This can help members earn more on their savings compared to many traditional savings options.

What is APY on a Certificate Account?

APY stands for Annual Percentage Yield. APY reflects the total amount earned on a deposit account over one year, including the effects of compounding dividends.

Can anyone open a Wescom Financial Certificate Account?

Individuals who are eligible for Wescom Financial membership can open a Certificate Account. Membership is available to people who live in California and meet applicable account-opening requirements.

What is a College Saver Certificate?

A College Saver Certificate is a certificate account offered for eligible Wescom youth account holders. It helps families save toward future education expenses by providing a fixed-term savings option with a competitive dividend rate and a lower minimum balance requirement.

How do I open a Wescom Financial Certificate Account?

You can open a Wescom Financial Certificate Account online, by phone, or at a Wescom Financial branch. You will need to be a Wescom member and fund the account with the required minimum opening deposit.

Why choose a Certificate Account for savings?

A Certificate Account can be a good option for savers who want predictable growth, competitive dividend rates, and a disciplined approach to reaching long-term financial goals by keeping funds on deposit for a set period.

Are Wescom Financial Certificate Accounts federally insured?

Yes. Wescom Financial Certificate Accounts are federally insured to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is administered by the National Credit Union Administration (NCUA). Additional coverage may be available depending on account ownership structure and applicable insurance rules.