A Certificate of Deposit (CD) is an interest-bearing savings certificate entitling the owner to earn interest. Each CD has a maturity date and a specific, fixed interest rate of return.
Unlike a savings account, a CD is not structured for “on demand” withdrawals. While the funds can be accessed ahead of the maturity date if necessary, doing so will often incur a penalty.
CDs are a smart option for members looking for a safe, long-term investment. TelComm Credit Union’s CDs are perfect for building a sound nest egg.