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Shell Federal Credit Union offers eight share certificate term options with a minimum deposit of $500 for each account:
Dividends are calculated daily and paid monthly, but early withdrawal penalties do apply (see below for a full description of early withdrawal penalties).
The dividend rate increases based on the amount of deposit. Below is how the interest is calculated:
| Base rate |
$500 - $24,999 |
| Base rate + 0.05% |
$25,000 - 49,999 |
| Base rate + 0.10% |
$50,000 - $99,999 |
| Base rate + 0.15% |
$100,000+ |
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| 1 |
6 month term |
| 2 |
12 month term |
| 3 |
18 month term |
| 4 |
24 month term |
| 5 |
30 month term |
| 6 |
36 month term |
| 7 |
48 month term |
| 8 |
60 month term |
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Share Certificate Value Calculator
This calculator is for general estimation purposes only, |
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We may impose a penalty if you withdraw any of the principal before the maturity date.
Amount of Penalty
For all accounts the amount of early withdrawal penalty is based on the term of your account. The penalty is as follows: Greater of $25 or loss of dividends, whether earned or not, on amounts withdrawn equal to dividends that would have accrued over 50% of remaining term.
How the Penalty Works
The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.
Exceptions to Early Withdrawal Penalty
At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:
- When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction
- Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) calendar days after establishment; or where the account is an IRA or Keogh and the owner attains age 59 1/2 or becomes disabled.
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Phone: (800) 388-5542 Privacy Policy