Certificates of Deposit
A longer-term saving strategy.A Certificate of Deposit (CD) is an interest-bearing account that earns a higher interest rate than regular savings. Terms start at six months with a minimum of only $1,000 to deposit and earn.
|Details||IRA CDs||Regular CDs|
|Term||12 – 60 Month||6 – 60 Month|
|Minimum to Open||$1,000.00||$1,000.00|
|Learn More||Open Now|
This calculator will help you determine the future value of a deposit account.
When your CD is close to its maturity date, City CU will send you a notice by mail as a reminder. You have until 10 days after the maturity date to close your CD without penalty or add funds. If you take no other action, your CD will roll into a new CD at the current rate at the same term as the original CD.
The penalty is based on the term:
- 6- and 12-month CDs will incur a penalty of 90 days’ interest
- 24-, 36- 48- and 60-month CDs will incur 180 days’ interest
It’s virtually risk-free, with no risky investments or uncertain stocks - so you can grow your savings while keeping your funds safe and secure. If you have questions, our Special Accounts Officer can help.