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Chris Peach from One Easy Credit Union explains credit union share certificates, which are specialized savings accounts that offer fixed dividend rates in exchange for keeping your money deposited for a certain time, typically between three months and five years. The commitment to saving for a fixed term allows for higher dividend rates compared to traditional savings accounts. Although share certificates may resemble certificates of deposit (CDs), the main difference lies in the institution offering them. This financial product aims to provide a way to save money with high rewards and low risk.