Certificates & Savings
Share Certificates
Your future investment begins here! With our share certificates, your savings will receive a rate of return that is guaranteed. With terms ranging from 6 months to 7 years and initial deposits as low as $500, you can select the option that best suits your needs and budget.
Benefits
- No monthly service fees.
- Competitive rates and variety of term options.
- Dividends can be credited directly to the Certificate or transferred to a savings or checking account.
- Up to an additional 0.25% is added to your rate with Relationship Rewards. Our Gold, Silver, and Bronze statuses are determined by the number of products and services you use with us.
- Open an account with a minimum deposit of $25,000 and receive an additional 0.10% added to your rate.
- All accounts are insured up to $250,000 per depositor by the NCUA.
- 10-day grace period following the maturity date for making changes without incurring a penalty.
- During the length of a share certificate , no additional funds may be deposited.
- If you withdraw funds from the Share Certificate prior to its maturity date, you will incur a penalty. Share Certificates with maturities between 6 and 11 months will incur a 90-day interest penalty. The interest penalty for certificates of deposit with maturities between 12 and 84 months is 180 days.
- Members may select any term within the term ranges indicated, but Gold members will earn up to an additional 0.24% increase to their rate depending on the additional length of the term.
- Interest accrued will be deposited monthly.
Rates
Effective: 4/01/2022
Share & IRA Certificates (Includes Traditional, Roth & Education IRAs) | Rate | APY* | 6-11 Month (excludes IRA products) | 2.85% | 2.89% |
|---|---|---|
12-23 Month | 2.90% | 2.94% |
24-35 Month | 2.65% | 2.69% |
36-47 Month | 2.40% | 2.43% |
48-59 Month | 2.25% | 2.28% |
60-84 Month | 2.25% | 2.28% |
Frequently Asked Questions About Share Certificates
For existing members, please click the link here. If you’re not a member yet, please join and apply now using the link here or call us at 202.808.3600.
$500.00 is the minimum required amount to open a certificate.
- 6 – 11 months
- 12 – 23 months
- 24 – 35 months
- 36 – 47 months
- 48 – 59 months
- 60 – 84 months
- If you are a Bronze Member, you will receive an additional 0.05% in addition to any of our current rates.
- If you are a Silver Member, you will receive an additional 0.10% in addition to any of our current rates.
- If you are a Gold Member, you will receive an additional 0.25% in addition to any of our current rates.
- In addition to the Relationship Rewards levels above, if the initial deposit is $25,000 or more, you will receive an additional 0.10% added to your rate.
- If you are a Gold Member, you will receive an additional 0.01% to any of our current rates for each additional month above the lowest term within that term range. (E.g. a Gold Member would receive an additional 0.06% increase for a 66 month Certificate, or a 0.02% increase for a 14 month Certificate.)
SHARE Savings
Share Savings Accounts
- No monthly maintenance fee
- NCUA insured up to the maximum allowed by law (currently $250,000 for each depositor for all combined deposits)
- Free Online Banking, mobile banking and Bill Pay
Rates
Effective: 3/11/2020
Savings Rates | Rate | APY* | Share Savings Account | 0.05% | 0.05% |
|---|---|---|
Club Account | 0.05% | 0.05% |
Youth Share Savings | 0.05% | 0.05% |
Frequently Asked Questions About Savings Accounts
Click here to apply now.
Yes, the initial funding amount is $5.00, and it remains on hold until the overall account is closed.
The basic coverage available to members of a federally insured credit union is as noted below:
Types of Accounts Insured by the Share Insurance Fund
Share insurance covers many types of share deposits received at a federally insured credit union, including deposits in a share draft account, share savings account, or time deposit such as a share certificate. Share insurance covers members’ accounts at each federally insured credit union, dollar-for-dollar, including principal and any accrued dividend through the date of the insured credit union’s closing, up to the insurance limit. This coverage also applies to nonmember deposits when permitted by law.
- Single Ownership Accounts (owned by one person with no beneficiaries): $250,000 per member-owner
- Joint Ownership Accounts (two or more persons with no beneficiaries): $250,000 per owner (with the primary owner a member of the credit union)
- IRAs and Other Certain Retirement Accounts: $250,000 per member-owner
- Revocable Trust Accounts: Each member-owner is insured up to $250,000 for each eligible beneficiary named or identified in the revocable trust, subject to limitations and requirements
- Irrevocable Trust Accounts: Each owner (so long as all owners or all beneficiaries are members of the credit union) is insured up to $250,000 for each beneficiary named or identified in the irrevocable trust, subject to specific limitations and requirements. Coverdell Education Savings Accounts, formerly education IRAs, are insured as irrevocable trust accounts.
Note: A qualifying eligible beneficiary must be a natural person, or a charitable organization or non-profit entity under the Internal Revenue Code
These share insurance coverage limits refer to the total of all shares that account owners have at each federally insured credit union. This listing shows only the most common ownership types that apply to individual and family shares and assumes that all NCUA and share insurance coverage requirements are met.
Additional information can be found at the NCUA’s Share Insurance Estimator(Opens new window) and in these FAQs(Opens new window). Members with questions about share insurance coverage, can call 1.800.755.1030, and selection option 1, Monday through Friday, 8 a.m. to 5 p.m. Eastern, or send an email to DCAmail@ncua.gov.
Yes, according to Federal Regulation D, you can withdraw from your Savings Account 6 times per month.
Yes, your Savings Account is automatically linked to your Checking Account to cover any overdrafts up to 6 times per month.
CDs & Savings
Money Market Accounts
A money market account can help you earn a higher rate of return on your balance without sacrificing access to your savings. We offer tiered rates that are based on the balance in your account.
- Only $2,500 minimum deposit to earn dividends
- No monthly maintenance fee
- NCUA insured up to the maximum allowed by law (currently $250,000 for each depositor for all combined deposits)
- Free Online Banking, mobile banking and Bill Pay
Rates
Money Market Accounts & IRAs Traditional, Roth, Education | Rate | APY* | for balances from $100 – $19,999 | 2.00% | 2.02% |
|---|---|---|
MMA Balance from $2,500 – $19,999 | 2.00% | 2.02% |
for balances from $20,000 – $49,999 | 2.15% | 2.17% |
for balances greater than $50,000 | 2.25% | 2.27% |
†All rates subject to change without notice.
‡APR – Annual Percentage Rate
*Variable rate is tied to the Wall Street Journal Prime Rate as published on the last day of the month.
Share Certificate & IRAs
Individual Retirement Accounts (IRAs)
We understand that planning for the future isn’t always easy when you have expenses that need to be paid now, but putting even a small amount away regularly in an individual retirement account (IRA) can make a big difference in our finances – today and for years to come.
We have a number of different types of IRAs to choose from, including those that offer tax-deferred earnings and tax-deductible contributions.* Best of all, we can help you select the type of IRA that best fits your needs and goals.
Our IRA Options Include:
- Traditional IRA: Your contributions are tax-deferred as long as they’re qualified, which means that you won’t pay taxes now as long as you stick to the requirements.
- Roth IRA: You pay tax on your contributions now, but not on the interest you earn or when you make qualified withdrawals.
- Education IRA: Don’t let the name confuse you – this is another tax-advantaged option designed to help parents save for their children’s education expenses.
- IRA Money Market Account: Just like a regular money market account, except this one is within an IRA. You can access your funds at any time, but the trade off is that the interest you earn is typically lower than other IRA options.
- IRA Certificate: As the name suggests, this is a share certificate that is held within an IRA account. Your interest rate is locked in for a set term, and your money can grow tax-deferred since the Certificate is in an IRA.
While each type of IRA is different, all DOCFCU IRAs have distinct advantages that include:
- Dividends posted monthly
- Certificates insured by the NCUA up to $250,000 for each depositor for all combined certificates
- Gold members receive a rate increase of .01% for every month within term
- Members receive a 10-day grace period to renew or close a Certificate
- No monthly service fee
- Online access to your DOCFCU accounts
Let us help you select the option that best fits your needs and goals. Call 202.808.3600.
*Please consult with your tax advisor for details.
Rates
IRA Money Market Accounts Traditional, Roth, Education | Rate | APY* | for balances from $100 – $19,999 | 2.00% | 2.02% |
|---|---|---|
for balances from $20,000 to $49,999 | 2.15% | 2.17% |
for balances greater than $50,000 | 2.25% | 2.27% |
IRA Certificates (Includes Traditional, Roth & Education IRAs) | Rate | APY* |
|---|---|---|
12-23 Month | 2.90% | 2.94% |
24-35 Month | 2.65% | 2.69% |
36-47 Month | 2.40% | 2.43% |
48-59 Month | 2.25% | 2.28% |
60-84 Month | 2.25% | 2.28% |