A Quick Guide to Certificates of Deposit (CDs)

At Roswell Community Federal Credit Union, we're dedicated to providing you with valuable financial options to help you achieve your goals. One such option, the Certificate of Deposit (CD), offers a secure and rewarding way to save and grow your money. Here’s a snapshot of what you need to know:

  1. Fixed Term: When you open a CD, you agree to keep your funds deposited for a specific period, called the "term." Terms vary, and longer terms often come with higher interest rates.

  2. Fixed Interest Rate: The interest rate on a CD remains constant throughout its term, allowing you to plan and predict your earnings.

  3. NCUA Insurance: Rest easy knowing that CDs (and all deposits pf up to at least $250,000) at Roswell Community Federal Credit Union are insured by the National Credit Union Administration (NCUA), ensuring the safety of your investment.

  4. Early Withdrawal: While your money grows within a CD, keep in mind that withdrawing before the term ends may result in penalties. Familiarize yourself with the withdrawal rules.

Benefits of Certificates of Deposit

  1. Predictable Growth: With a fixed interest rate, you'll know exactly how much your investment will earn over the CD's term.

  2. Low Risk: CDs are a low-risk option, making them ideal for those who prioritize the security of their funds.

  3. Competitive Returns: Enjoy higher interest rates compared to standard savings accounts, accelerating your savings progress.

  4. Short-Term Goals: CDs are perfect for reaching short-term financial goals, providing a dedicated savings vehicle.

  5. Diversification: Adding CDs to your financial strategy diversifies your portfolio and spreads risk.

Certificates of Deposit offer you a reliable path to grow your savings while keeping risk in check. As a member of Roswell Community Federal Credit Union, your financial well-being is our priority. If you're interested in the potential of Certificates of Deposit or have questions about how they fit into your financial plan, our team is here to assist you. Reach out today to explore how CDs can enhance your financial journey.

Guest User