Certificates of Deposit
CD’s (Certificate of Deposit)¹
CDs pay a higher interest rate than other types of accounts because when you put your money in a CD you are “promising” that you will leave it on deposit for a certain amount of time. Usually the longer you are willing to leave the money on deposit, the higher the interest rate you receive. The credit union currently offers only a 1 year term CD.
¹All interest your CD earns may be withdrawn at any time without penalty. If any of the original CD amount is withdrawn before the maturity date, a 90 days worth of interest penalty is assessed.