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 CDs and Certificates, the FDIC insures banks and the NCUA insures credit unions.