CERTIFICATES OF DEPOSIT (CDs)
Put your money to work for the future.
How Much Could Your Savings Earn?
Certificates of Deposit (CDs) offer higher rates of return on your long-term savings, while ensuring that your investment is secure. Typically, CD rates are among the highest offered by the credit union, especially for larger balances.
Plus, qualifying members can take advantage of a special CD rate bonus offered through the Member Merits program.
Great For:
- Growing your money securely with pre-defined returns.
- Saving for goals with a known timeline a few months or years in the future, such as a down payment or special vacation.
- Helping to manage risk in an overall investment plan.
How Do CDs Work?
Fixed Terms
When you open a CD, you agree to leave the money on deposit for a set amount of time, also known as the “term”. If you choose to withdraw your funds before the end of that term (called the “maturity date”), early withdrawal penalties will usually apply.
While this may limit the availability of your deposit for a time, it can also help reduce temptation to dip into savings you want to protect.
While this may limit the availability of your deposit for a time, it can also help reduce temptation to dip into savings you want to protect.
Fixed Amounts
In most cases, after the CD is opened, you cannot deposit more funds into it. However, there is no limit to the number of CDs you can have open at one time, so you could consider opening a new CD instead.
Predictable Returns
CDs offer certainty in your investment, allowing you to lock in a specific return and plan ahead.
Safe Investments
Unlike stocks and mutual funds where there is a risk of losing your original investment, deposits at Together Credit Union (including CDs) are federally insured by NCUA. At maturity, you can depend on receiving your money back plus the earnings agreed on.
Financial Wellness Resources
Know what time it is? …Time to sharpen your money-management skills!
A HELOC, or Home Equity Line of Credit, is a revolving line of credit that turns your current home equity into cash.
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