Certificates of Deposit
Security, guaranteed returns, and elevated interest rates are just a few of the perks of integrating a certificate of deposit (CD) as part of your savings strategy. Tailor your terms and accelerate your savings with our CD savings options.
Benefits of CDs with Neighbors Credit Union
- Accessibility: Minimum investment of only $1,000 for regular CDs and $100 for our Investment Builder CDs.
- Customizable Terms and Competitive Interest: Terms ranging from 6 to 84 months paired with a range of competitive interest rates mean you can tailor your CD investment to your individual financial goals and timeline.
- Dividend Choices: Have your interest deposited into your Neighbors checking, savings or money market account, or compounded in your CD account to accelerate your savings.
- Retirement Savings Options: Available terms from 12 to 84 months for IRA CDs.
How do CDs differ from traditional savings accounts?
Our regular savings account at Neighbors offers a simple way to start or supplement your savings goals, with low minimum deposit requirements and easy transfers to and from your Neighbors checking or money market accounts.
CDs differ from other savings accounts as they are a timed deposit account, offering higher, guaranteed interest rates in exchange for fixed term lengths. While you can’t access your funds until the end of the term, you can choose a term length that works for you—from 6 to 84 months—letting your funds grow untouched.* When your CD reaches maturity at the end of its term, you can roll your funds into a new CD or cash out your account.
Unlike market investments, CDs offer predictable growth without the risk of loss, and all CDs at Neighbors are Federally Insured by the NCUA.** Ideal for long-term goals, CDs are great tools for saving for a large purchase, boosting your retirement funds, or growing your nest egg.
How to Open a CD
Opening a CD at Neighbors Credit Union is easy—in person or from the convenience of your home!
Complete your account opening application online or in person at the local branch nearest you.
Your Neighbors Credit Union membership begins with a Regular Savings Account. All members are required to open and maintain a minimum $1 balance in this account.
To open a CD account at Neighbors, be sure to have:
- Opening Deposit: Minimum $1,000 deposit for each CD account.
- Personal Information: Name, address, phone number, and social security number,
- Identification: A current state-issued photo ID.
Investment Builder CDs
If you have less than $1,000 set aside, but would still like to earn a higher rate of interest than a Regular Savings Account, an Investment Builder CD is for you.
For a $100 minimum balance, you can enjoy a 12-month term and make unlimited deposits ($10 minimum), all while earning a higher interest rate compared to a Regular Savings Account.
Open a CD with Neighbors Credit Union
A low-risk investment with guaranteed interest, CDs from Neighbors Credit Union can be a great addition to your savings portfolio. Explore our rate and term options, apply online today, or schedule an appointment at your neighborhood branch to learn more about your CD options in St. Louis!
*Fees could reduce earnings on CDs. Early withdrawal penalties may apply. See credit union for full details.
**Federally insured by NCUA to at least $250,000.
