Is a Certificate the same as a certificate of deposit (CD)?

Not exactly. Although the two products are similar in structure, the key difference is where they are offered. CDs are available through for-profit banks, while Certificates (sometimes called “Share Certificates”) are offered through not-for-profit, member-owned credit unions like Connexus.

There are also differences in insurance. Although the federal government backs both CD and Certificate investments, the FDIC insures banks and the NCUA insures credit unions.