Certificates traditionally pay a higher rate of return than other savings accounts. A minimum balance is set aside for 6-60 months and the money earns a high, fixed rate of return for the entire time it's in the account. The dividends on certificates are compounded and credited monthly. Early withdrawal does result in a penalty.
Greater Iowa also offers a monthly certificate special. In addition to a competitive interest rate, these certificates offer flexibility. Once it's open, you may make one withdrawal with no penalty as long as you maintain 50% of the original balance and that the resulting balance is at least equal to the required minimum balance.
Click here for current rates. If you're a current Greater Iowa member, you can open a certificate over the phone. Just call 1-800-296-9064.