Certificates of Deposit

A Certificate of Deposit (also known as CD) is either a short- or medium-term, interest-bearing, FDIC-insured debt instrument offered by banks and savings and loans.

CDs offer higher rates of return than most comparable investments, in exchange for tying up invested money for the duration of the certificate's maturity. Money removed before maturity is subject to a penalty. CDs are low risk, high return investments, and are also known as "time deposits", because the account holder has agreed to keep the money in the account for a specified amount of time, anywhere from six months to two years.

Rates* as of March 18, 2008 are:

• 6 month 3.25% APY (Annual Percentage Yield)
• 12 month 3.50% APY
• 18 month 3.50% APY
• 24 month 3.50% APY
  (minimum of $2,000.00 required)

*rates are subject to change

All accounts are federally insured to $l00,000 by NCUA, National Credit Union Administration, a U.S. Government Agency.