Tenured team member Karla Sarran said one of the member-owned financial institution’s standout offerings is the share certificate—also known as a certificate of deposit. Unlike some banks that require large deposits or offer tiered interest rates, United Texas Credit Union offers members a simplified option.
“One of the things that makes our share certificate a little bit different from what other places offer is we have a low minimum to start off,” Sarran said, explaining that the certificate only requires a $500 deposit.
She said other financial institutions require a higher opening deposit and give better rates to customers who deposit more. United Texas Credit Union gives everyone the same rate, regardless of the amount they put in their share certificate.
The share certificates come with fixed interest rates and are insured through American Share Insurance—an added benefit that allows the credit union to cover unlimited accounts up to $250,000 each. Sarran called the certificate a vehicle for ”reliable, safe [and] insured savings.”
“You can earn a lot in the stock market, but there is risk and volatility there,” Sarran said. You don't have that with a share certificate, once you purchase it, the rate that you purchase it at is the rate for the term of the certificate.”
Members can choose terms ranging from six to 60 months and can set up a “laddering” strategy, opening multiple certificates with different maturity dates to maximize returns over time, according to the business’s website. While funds can't be added mid-term, members can easily open new certificates if they want to continue building their savings.
Beyond offering secure savings tools, being a member-owned institution allows United Texas Credit Union to offer competitive rates.
“We work for our members, and that's one of the ways that our members get paid back for being one of the owners is by enjoying higher rates compared to other institutions that have to try and earn a profit for stockholders,” Sarran said.
In addition to share certificates, United Texas CU offers an Ultimate Checking account that pays unlimited cash back with no monthly fees, helping members make the most of their everyday spending.
For those saving for a big purchase or simply looking for a low-risk, high-yield way to grow their money, Sarran recommends considering a share certificate.
“It’s a great, easy, secure, reliable, insured way to save for your goals,” Sarran said.
United Texas Credit Union also places a strong emphasis on financial education. Whether it’s navigating an auto loan or choosing the right savings strategy, the credit union’s team is committed to helping members make informed, confident decisions.
“That's really one of our biggest advantages is that we're in business to assist our members and make sure that they may make the most educated decisions possible when it comes to their finances,” Sarran said. “We’re helping members make some of the most important financial decisions of their lives and some of the most expensive decisions of their lives. We want to make sure that they don't make a costly, expensive mistake that would take them a long time to recover from.”
Ready to start building a more secure financial future? United Texas Credit Union makes it easy to take that first step. Visit your nearest branch location to set up your share certificate and start saving with confidence today.
The above story was produced by Multi-platform Journalist Mary Katherine Shapiro with Community Impact's Storytelling team with information solely provided by the local business as part of their "sponsored content" purchase through our advertising team.
