Certificates of Deposit (CDs)
CDs are that rare opportunity to earn greater returns without exerting greater effort.
Our CDs earn guaranteed, investment-level returns with zero risk. Your premium rate is locked and the funds are federally insured. Simply pick the term, and watch the returns roll in.
- Summary
- Earn greater dividends than savings
- CD rates well above the national average
- Rate locked for length of term
- Terms from 3 months to 5 years
- Penalty for early withdrawal
- Flexible options at maturity
- Can ladder CDs to increase liquidity
- Funds federally insured just like savings accounts
- Only $500 minimum to open CD
Dividends
Dividend earnings may be reinvested into the CD to enhance your total earnings. Or you may choose to have dividends deposited into a savings account or mailed directly to you.
Maturity
Unless specific arrangements are made with a Member Service Representative, certificates will automatically renew at maturity. A statement will be sent out approximately 14 days prior to maturity and there will be a 7-day grace period. This provides convenience for members, and permits members nearly 30 days to change the terms or conditions of the certificate without penalty.
- Laddering
A great way to build liquidity into certificates—and to make the most of rate changes—is to ladder your CDs.
Laddering simply means dividing your money among several certificates, each with an increasingly longer term, instead of putting all your money into one certificate. This way, part of your investment becomes available periodically rather than locking the entire amount for the longest term.
In addition to making funds available if you need them, this gives the opportunity to take advantage of rates that are increasing since you can reinvest the CD that matures at the current rate.
