WHAT IS A CERTIFICATE OF DEPOSIT (CD)?

You've probably heard the term "CD" all of your life, but do you know what it is?  It's okay if you don't!  It's one of those things that no one ever explains...which is why we are here today! 

A Certificate of Deposit, known as a CD, is basically a time capsule for your money!  So, what happens is you agree to keep your money locked up at the bank for a certain amount of time. Meanwhile, the bank agrees to pay you a higher annual percentage yield (APY).  This is a super safe way to invest your money!

When you come in to open a CD you will be able to choose how long you want your term to be.  The longer the term - the more the bank pays you.  But, make sure you are able to keep that money invested for the specified period of time, because there are penalties if you withdraw early.

We have some great CD specials going on right now if you are thinking about investing.  Contact us today to set up your CD!