Why a Certificate of Deposit?
Benefits of Certificates of Deposit (CDs)
- Meet your future savings goals with certainty
- Competitive, fixed rate for length of term
- Greater earnings than a regular savings account1
- Interest accrues daily2
- No setup or maintenance fees
- Automatic renewal at maturity3
- Early withdrawals subject to penalty
- Federally insured by the FDIC up to $250,000
- Available to individuals, businesses, and trusts4
- A wide range of terms available (6 months to 5 years)
- Provides more guarantee than other, more risky investments
- Receive higher rates by selecting a longer term, or one of our specials
1 Fees may reduce earnings 2 For CDs of at least 12 months, interest may be added back to principal every three months or deposited into another account 3 You have 10 days after maturity to change the terms of a CD or withdraw funds without penalty 4 All time deposit products offered online by CFSB, including certificates of deposit and individual retirement accounts, are offered to individual consumers or trusts only. Deposit placement for brokers, wholesale deposit dealers, or other financial institutions is not permitted at this time.
*APY = Annual Percentage Yield. For the 10 month CD Special the minimum amount to open the account and obtain the Annual Percentage Yield is $1,000. For the 19 month CD Special the minimum amount to open the account is $10,000 and the minimum to obtain the Annual Percentage Yield is $1,000. APY is accurate as of November 14, 2022. A penalty will be imposed for early withdrawal. Account fees may reduce earnings
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