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Chris Peach from Money Peach explains credit union share certificates as a type of savings account that offers a fixed dividend or interest rate in exchange for committing your money for a set period, typically ranging from three months to five years. By locking in your funds for a designated term, you benefit from a higher dividend rate compared to traditional savings accounts. While similar to certificates of deposit (CDs), the main distinction lies in the institution offering them. Share certificates provide a low-risk, rewarding way to save money.