Certificates of Deposit (CDs)
Last updated July 29, 2024
Mountain America Credit Union offers Certificates of Deposit (CDs) as a secure way to grow your savings at a fixed, higher interest rate. CDs provide a predictable return on your investment, making them an excellent option for those seeking stability and guaranteed growth.
Choosing the Right CD
Here's a breakdown of key factors to consider when choosing a CD:
- Term: CDs come with various terms ranging from a few months to several years. Choose a term that aligns with your financial goals and time horizon.
- Interest Rate: The longer the term you choose, the higher the interest rate generally is. Carefully compare rates across different terms to find the best fit for your needs.
- Minimum Deposit: Each CD has a minimum deposit requirement, which is the initial amount you must invest to open the CD. Review these requirements to determine if it aligns with your financial situation.
How to Open a CD
To open a CD with Mountain America Credit Union, you have two convenient options:
- Apply Online: Visit our website and follow the instructions to apply for a CD online.
- Visit a Branch: Find a convenient branch location near you and speak with one of our friendly representatives.
Important Information
- Early Withdrawal Penalty: If you need to withdraw funds from your CD before the term ends, you may face a penalty. Be sure to understand the terms before opening a CD.
- Automatic Renewal: When your CD term expires, it may automatically renew for another term. Be aware of this process to ensure it aligns with your goals.
- Diversification: You can choose to open multiple CDs with different terms and interest rates to diversify your investment portfolio.
Contact Us
If you have questions about choosing the right CD or require assistance opening one, please contact us at 1-800-724-6228 or visit our website for more information.
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