Certificate of Deposit (CD)

A Certificate of Deposit, or CD, allows you to earn a fixed return on your investment with the added benefit of FDIC Insurance (up to $250,000). We offer a variety of terms from 7 days to 5 years, allowing you to structure your maturity dates to meet your financial goals.

  • $1,000.00 minimum balance to open

You may decide on maturity from 7 days to 5 years, so you can choose the CD that best fits your needs. There may be a substantial penalty for early withdrawal. Refer to Early Withdrawal Penalty Disclosure for details.

For more information, or to open an account, please contact Account Services.

Certificate of Deposit Disclosure

Investors searching for relatively low-risk investments often turn to a Certificate of Deposit (CD). A CD is a special type of deposit account that typically offers a higher rate of interest than a regular savings account. Unlike other investments, CDs feature:

  • Federal deposit insurance up to $250,000
  • A guaranteed rate for the term of your CD
  • Automatically renew at maturity
  • Various terms

How Does a CD Work?

When you purchase a CD, you invest a fixed sum of money for a fixed period of time - six months, one year, five years, or more - and, in exchange, the bank pays you interest, typically at regular intervals. When your CD matures, you can either reinvest your earnings or receive the money you originally invested plus any accrued interest as income. But if you redeem your CD before it matures, you may have to pay an "early withdrawal" penalty or forfeit a portion of the interest you earned.