Certificates of Deposit (CDs)
A certificate of deposit is a time- and term-based savings product. This means that your money will earn interest at the rate you choose for the term/time that you choose. The benefit of a CD is that the annual percentage rate is generally higher than a traditional savings rate. With market fluctuations, interest rates typically change. With a CD, the interest rate is guaranteed for the life of the product.
CD Details
The dividend rate and annual percentage yield (APY) on CD accounts will remain at the rate at which you opened it.
- You must be or become a member of WCCU.
- The minimum deposit required to open a CD is $500.
- Once your CD matures based on the term you chose, your whole principal plus interest earned will transfer into your membership savings and will be available to you.
- If you need your money earlier than the maturity date, you can withdraw with a small penalty.
- The National Credit Union Administration, a U.S. Government agency, federally insures savings up to $250,000.00.
- We've partnered with ESI to offer you an additional $750,000 in share insurance - bringing your total coverage to $1,000,000!
Calculate Your Certificate of Deposit (CD) Value
Use this Certificate of Deposit Calculator to help determine the potential interest growth and tax liability on your Certificate of Deposit.
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