A Certificate of Deposit gives you a fixed, predictable return with FDIC insurance behind it. An IRA gives your retirement savings real tax advantages. Both are steady, dependable ways to grow money you do not need tomorrow.
Choose a term that fits your timeline, from 6 months to 5 years, and lock in a rate that will not change no matter what happens in the market.
Terms available: 6, 7, 10, 12, 15, 18, 24, 30, 36, 48, and 60 months, with minimum opening deposits that vary by term.
Our 60-month Uniflex CD gives you a one-time option to exchange your rate for a new one during the term, in case rates move in your favor. Once you exchange, your maturity date stays the same.
How interest works: depending on the term, interest compounds semi-annually, at maturity, or annually, and can be added to your CD, deposited into your checking or savings account, or issued to you as a check. Early withdrawal penalties apply and vary by term; see current rate disclosures for details.
Whether retirement is decades away or right around the corner, an IRA gives your savings a tax advantage that a regular account cannot.
Contributions may be tax-deductible, and your savings grow tax-deferred until withdrawal.
Contribute after-tax dollars now, and withdraw both contributions and earnings tax-free in retirement, under IRS rules.
A nondeductible account built specifically for a child's education expenses, with tax-free withdrawals when used for qualifying costs.
IRA funds can also be placed into a dedicated IRA CD, with its own minimum deposit and term structure separate from standard CDs, including KEOGH plan CDs for eligible small business retirement accounts. Early withdrawal penalties on IRA CDs are waived after age 59½.
If you are saving for something further out, a Certificate of Deposit or an IRA might get you a better return.
