Certificates of Deposit (CDs) are a strong strategy for upping your savings game. When you open this type of account with your credit union, you can make deposits whenever you want. But the big difference between CDs and standard savings or checking accounts comes with the withdrawal period.
CDs have a set term until you reach a maturity date, where you can’t withdraw money without paying a penalty. This time could be anywhere between 3 and 60 months. That might sound kind of strange, but the benefits come in strong for savings. Here are a few reasons that CDs might be a good financial move for you.
Non RMCU links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Rocky Mountain Credit Union of any of the products, services or opinions of the corporation or organization or individual. RMCU bears no responsibility for the accuracy, legality, or content of the external sites.