CDs – Certificate of Deposits – Share Certificate
We offer a full range of certificates to meet your savings needs. Share Certificates, CD’s and Certificates of Deposit are all the same thing but just can be referred to by different names. You may start a Share Certificate with as little as $100 and pick a term that is suitable for you.
Grow your money faster with a a CD or Certificate of Deposit. A CD is a federally insured, easy to open, low-risk investment product. Unlike a savings account, a CD requires you to put your cash on deposit for a specific length of time, also known as a “term”. There are many CD terms available to fit individual needs. If you need to access your money before your term is up, penalties may apply.
While your money is in a CD, it earns dividends denoted as annual percentage yield, or APY. Generally, CD rates are higher than savings account rates as you are committing to save your money for a determined amount of time (term). Committing to longer terms typically means you’ll earn more interest.
When your CD reaches maturity, it means that your term has been reached. At the time of maturity, you have options that include – cashing in or rolling the CD over into another like-term at a current given rate.