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A savings certificate is a safe investment option that allows you to earn higher interest when you commit to depositing your savings for a set period of time. Savings certificates are the equivalent of Certificates of Deposit (CDs), however, they are issued by credit unions rather than banks. At the UPenn SFCU, small savers can earn the same rates as big depositors. The longer the term, the higher the interest rate. If you decide to withdraw part of the certificate before the maturity date, there will be an early withdrawal penalty which is outlined in our terms. Please see below for more details.