You probably know it as a CD but there are several names for it:
Certificate of Deposit, Share Certificate, Savings Account Thingy, Frank, etc.
Whatever you call it, it’s a good way to earn some interest without having to do anything. The only thing you have to do is NOT do anything with it. Where else can you get paid to NOT do something?!
How it works:
- Look at the CDs we offer and see what their rates are here.
- Decide how much money you want to put in a CD. The minimum to open one here is $1,000.
- You pick which CD term you want, meaning how long it’s good for. For example, if you pick a 24 month CD, that means you have to keep your paws off of it for 24 months in order to earn the interest you want.
- Open your CD:
- If you already have an account(s) with us, just give us a call and we’ll set you up over the phone. (You can always stop in, too, we’d love to see you!)
- If you don’t have any accounts with us yet, we can take care of you at either of our branches or you can click here and we’ll make a member out of you, online.
What’s the One Bump CD?
This Share Certificate account will have a fixed rate for the term of the certificate, until the member exercises his/her right to increase the rate to the rate currently being offered for accounts of this type with the same term. This is called a “bump” and can be done at any point during the term. Once bumped, the new rate will remain in effect through the rest of the certificate’s term. Translation: you can choose a higher rate one time during the term of the CD.
Random fact, there was a dance in the ’70s called The Bump. (Here’s what it looks like.) This has absolutely nothing to do with this CD but we thought you should know this. Feel free to come into a branch and show us your moves!Disclosures