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Diversify Your Savings Portfolio

You should diversify your savings portfolio just like your investments. Financial experts recommend giving your savings as much chance as growth as possible. Here’s a look at a great choice for diversifying your savings: a certificate account.


What is a certificate account?
A certificate account is an insured savings account with a fixed dividend rate and a fixed date of maturity. The funds in these accounts grow at a dividend rate that is usually higher than those on typical share savings accounts and some money market accounts. 


How is a certificate account different from a savings account?
There are many differences between these accounts, but the main one is the accessibility. A savings account has minimal restrictions on in-branch withdrawals. The funds in a certificate account can’t be withdrawn without penalty until the maturity date. 


Terms and conditions of certificate accounts.
You can open up a DoverPhila certificate account today. However, there are some basic requirements, such as a minimum opening balance and committing to keeping the money in the account for a set amount of time.


Is a certificate account for everyone?
While keeping your savings in a certificate can be an excellent way to diversify your savings, it’s not for everyone. Only open a certificate account if you are fairly certain you do not need to access the funds before the maturity date. 


What are the advantages of diversifying your savings through a certificate account?
Here are some of the most popular reasons people choose to open a certificate:

If a certificate account sounds like the perfect choice for you, stop by your closest credit union location today to learn more. We’re committed to giving your money its best chance at growth.

Scams are on the rise and take many forms. DoverPhila would never call or text to ask for your account and debit card information. If you receive an unexpected call or a text from someone claiming to be from DoverPhila, please ask questions to verify that it is a representative. If you are unsure, call us at 330-364-8874 to confirm. Learn more at our Fraud Resource page. Learn more>>

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