Certificates of Deposit
CresCom offers a broad range of certificates of deposit with a variety of features and terms. A certificate of deposit, referred to as a CD, is an FDIC insured financial product similar to a savings account, which means it has little to no risk. Unlike a savings account, a CD has a specific, fixed term (which is why they are sometimes called "time accounts"), and generally earns interest at a fixed interest rate.
After the CD reaches the end of its term (this is called "maturity"), the account holder may withdraw the money and its accrued interest or renew for an additional term.
Benefits of CDs
There are a number of reasons you may want to open a CD:
Interest rates: CDs typically pay higher interest rates than other deposit products. Higher CD rates may be available for longer terms.
Guaranteed return: Since the interest rate of a Fixed Rate CD is set at account opening and does not change until the CD matures, you know exactly how much money you will earn during the term of your CD.
Security: Your funds are FDIC-insured up to the maximum limit per ownership category.
We can help you determine whether a certificate of deposit (CD) is an appropriate investment for you and provide you with the most current CD interest rate information.
For more information call 855-CRESCOM (855-273-7266).