Why should I invest in a certificate of deposit (CD)?
A Certificate of Deposit, or CD, is a great way to invest your money and earn a higher interest rate than a traditional savings account. CDs are FDIC insured, so your money is safe and secure. They are also a great way to save for a specific goal, like a down payment on a house or a new car.
To open a CD with True Sky Credit Union, you simply deposit money into the account and agree to leave it there for a set period of time, usually between six months and five years. Typically the longer you leave your money in the CD, the higher the interest rate will be. When the CD matures, you can withdraw your money, plus the interest you’ve earned. CDs are a great way to save money and earn a higher interest rate than a traditional savings account.