Certificates of Deposit (CDs)

A Certificate of Deposit (CD) is a time deposit account that generally offers a higher interest yield for a fixed/predetermined period of time. CDs are protected by the Federal Deposit Insurance Corporation (FDIC), making your money a low-risk investment.

Savings accounts are generally liquid funds that can be withdrawn at any time, without a penalty, and may pay a lower interest rate. Certificates of Deposit are generally higher paying interest accounts in which the funds are held for specific predetermined periods of time.

Amounts vary based on the CD term. See Rates and Terms.

If funds are removed during the predetermined period of time, there may be a penalty or fees assessed.

The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects bank depositors against the loss of their insured deposits in the event that an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

FDIC deposit insurance protects bank customers in the event that an FDIC-insured depository institution fails. Bank customers don’t need to purchase deposit insurance; it is automatic for any deposit account opened at an FDIC-insured bank. Deposits are insured up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category. You may have more coverage based on your account titling and beneficiaries. Visit FDIC: Electronic Deposit Insurance Estimator (EDIE) to calculate the insurance coverage of your deposit accounts.