3 Reasons Why You Should Open a CD Account!
First let’s review what a CD is! A CD account is basically a time deposit. This deposit allows you to accrue interest on your money. CD accounts are an easy, sensible way to save money! Read to learn more about CD accounts and how opening one could benefit you.
1. A Sense of Security
When you open a CD, you agree that you will not withdraw the funds until the maturity date. This helps to ensure that you will not withdraw the money and spend it until you have completed your savings term. In addition, your CD account is federally insured by the FDIC, so there is peace of mind knowing that your money is safe.
2. Flexible Terms
At Winslow Community, we offer accounts with terms as short as 6 months and as long as 5 years. With flexible terms, you are able to customize your savings in a manner that fits your life and your goals!
3. Earn Interest & Watch Your Savings GROW!
When you open a CD, you are able to keep your principle safe and you are also able to earn some interest. At WCFCU, you can open multiple CD’s at once in order maximize your savings. And with NEW increased rates as high as 2.53% APY*, you can earn money and watch your savings grow easily!
|Term (Months)||Minimum Deposit (USD)||Dividend Rate (%)||APY* (%)|
*Annual Percentage Yield
Certificate rates remain fixed for the term of the certificate. Fees or other conditions may reduce the earnings on account. On certificate accounts, a penalty may be imposed for early withdrawals before maturity.