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Calculated Money Moves

Add a Certificate to Your Financial Game Plan

Feeling uncertain about your financial future is a common concern in today's market. However, there are a few products you can take advantage of to keep your money secure and growing steadily in the meantime. Savings accounts and Certificates are reliable options, but you may not know which is best for you. That’s why Elements is here to help you weigh your options, crunch the numbers, and provide you with advice to make a calculated game plan for your future savings. 

Weighing Your Options

To navigate this financial landscape and make the most of your money, you have two main deposit options: Certificates and Savings Accounts. Let's take a closer look at both to help you make an informed decision on which money move is best for you:

  • The dividend rate remains fixed throughout the account's term.
  • You can accurately predict your earnings over time due to the fixed rate.
  • Longer-term Certificates often offer higher interest rates compared to savings accounts.
  • You can choose a term ranging from 6 months to 5 years.
  • There are no fees if you hold your account until maturity, but early withdrawal may result in penalties.
  • You do not have access to your funds via checks, ATM transactions, or electronic transfers.
Savings Accounts
  • If it’s variable or a timed offer, the dividend rate can fluctuate while you hold the account.
  • Typically, the dividend rates are lower compared to Certificates, but your funds remain easily accessible and liquid.
  • You can access your funds through ATMs and conduct electronic transfers.
Our Advice

If you do not already have a savings account earning a rate of at least 4.25% APY1, consider a High Yield Savings Account with Elements. 

If you already have a competitive savings account, but you won't need to access your funds for at least 6 months, a Certificate may be your best option.

Crunching the Numbers

Elements currently offers limited-time specials with rates as high as 5.50% APY2, a significant improvement beyond rates below 1.00% APY observed in years past. To get a sense of how much you can earn by depositing money into a Certificate, consider the following examples using our limited time special Certificate rates:

  • $20,000 at 5.50% APY: $1,194 after 13 Months or $726 after 8 Months
  • $10,000 at 5.50% APY: $597 after 13 Months or $363 after 8 Months
  • $5,000 at 5.50% APY: $298 after 13 Months or $181 after 8 Months

Use our Certificates Calculator at the bottom of this page to calculate your own potential earnings.

Calculating the Game Plan

Certificates are particularly beneficial if you have plans for large future expenses. Whether your game plan is to purchase a home next year and want to increase your down payment,  or you plan to send your kids to college in the next decade, using a Certificate can help grow your savings predictably and efficiently. The locked dividend rate of a Certificate means that even if rates in the market drop, your account will continue to earn dividend at the higher Annual Percentage Yield (APY) offered when it was initially opened for that term. This is especially attractive for those anticipating a rate drop while still wanting to secure today's high rates for the long term.

Keep in mind that Certificates come with a penalty for early withdrawal. While this might seem like a drawback at first, it can work in your favor by discouraging impulsive spending.

Knowing that there is a penalty for early withdrawal is an incentive to leave your money untouched, allowing it to grow at the higher rate for the entire term.

In summary, the potential returns on a Certificate are currently at their highest in years. It's a strategic move to make the most of your savings in today's economic environment.

Buy a Certificate today at

1) High Yield Savings Annual Percentage Yield (APY) accurate as of November 1, 2023. High Yield Savings is a tiered savings account paying a variable dividend rate, that may change at any time, on the entire balance in your account based on the rate for the tier corresponding to each day’s daily balance. The account is available for new money only which are funds not on deposit at Elements for 90 days prior to opening the High Yield Savings account. Existing Elements members with savings accounts must deposit $25,000.00 or more of new money within 10 days of opening the High Yield Savings account. Existing Elements members with savings accounts with combined daily balances of $2,500.00 or less for the 90 days prior to account opening are excluded from the new money requirement. Additional information for each tier: An APY of 0.10% applies to accounts with balances from $0.00 to $99.99; from $100.00 to $2,499.99; and from $2,500.00 to $9,999.99. An APY of 4.25% applies to accounts with balances from $10,000.00 to $24,999.99; from $25,000.00 to $49,999.99; from $50,000.00 to $99,999.99; from $100,000.00 to $249,999.99; and $250,000.00 and above. At least one account holder must be 18 years of age. Other qualifications may apply. Offer may be discontinued at any time. Fees may reduce earnings. 2) Certificate Annual Percentage Yield (APY) effective as of November 1, 2023, and may change without notice. Fees may reduce earnings. Penalty for early withdrawal. *Limited Time Certificates Special — Limited-time offer may be withdrawn at any time. Unless redeemed, upon maturity, the 8-month certificate will automatically reinvest into a 6-month certificate at the then current APY; the 13-month certificate will automatically reinvest into a 12-month certificate at the then current APY; the 18-month certificate will automatically reinvest into an 18-month certificate at the then current APY. Minimum certificate deposit of $1,000. Primary members under the age of 18 must have a $500 minimum balance to open certificate.  Minimum of $500 balance required to earn dividends. Elements reserves the right to limit the balance of a certificate at any time. 

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