Depending on your needs, yes – a certificate savings account can be a worthwhile place to put at least some of your money. While other options – such as investing in the stock market – may offer the potential of greater returns over time, those returns aren't guaranteed. People can and do lose money on stocks and other investments every day. Certificate accounts are a popular savings option because they provide three key benefits:

• Your money is safe. Funds in a credit union certificate savings account are federally insured by the National Credit Union Administration (NCUA) to at least $250,000. It's an extremely low-risk investment.
• Your money is guaranteed to grow. Credit union certificate accounts let you lock in a guaranteed dividend rate (like bank interest, but typically a bit higher) for the term you choose. There's virtually no risk involved, and with compound interest your savings are certain to grow over time. The same cannot be said of most higher-yield investments.
• You control access to your money. While funds in a certificate account aren't liquid, you can control the term length. If you think you'll need access to funds in a month, choose a 30-day certificate. If you want to put money away and not worry about it for a while, choose a longer term, up to 60 months.