15-month certificate at 2.25% APY
Reach your savings goals with a Certificate of Deposit from HUECU!
Now available for a limited-time at special rates1, a CD is the perfect way to boost your savings.
*Minimum deposit of $1,000 in new funds required.
Summer CD Specials
Want to save even more?
Boost your rate by 0.10% APY* when you open a Crimson Elite checking account.
Benefits of Opening a CD
With a CD, you’ll be able to lock in your rate at the time of purchase. That means that from start to finish, you know exactly how much your investment will be worth.
With a CD, you take the uncertainty out of investing — returns are both predictable and, on average, higher than traditional savings account.
CDs come with minimal risk compared to other investment options. Insured by the FDIC and offered at a fixed rate, your CD will continue to grow predictably no matter what happens with the market.
Frequently Asked Questions
A CD stands for certificate of deposit. It is a type of savings account with a fixed interest rate, fixed term length, and fixed date of withdrawal (also known as the maturity date).
With a CD, the initial deposit will almost always be the only one you make; you cannot add contributions over time. The interest earned by your CD is usually compounded and credited to the account. Once the CD’s term ends you’ll receive all of that interest.
CD’s typically have higher interest rates than regular savings accounts, and unlike a traditional savings account, the interest rate on your CD is fixed, meaning that it won’t change from what it was when you opened the account. Also, you can only withdraw from a CD account penalty free once your term ends.
CD laddering is a smart way to protect yourself against fluctuations in interest rates while giving you the security of knowing that you will be able to access at least some of your money within a relatively short time frame. The beauty of a CD ladder is that you lower your risk and increase your return without losing access to at least some of your cash.
Let’s say you want to open a three year CD ladder with $15,000. You come to HUECU and open a one year CD for $5000, a two year CD for $5000, and a three year CD for $5000. Each year is a rung on the ladder. When the one year CD matures, you reinvest that money in a three year CD because by that time your three year CD has two years left until it matures. As each year’s CD comes due, you roll it into a new three year CD.
You can choose a shorter or longer term when you begin the ladder, but the key is to use the same term for each one once you start rolling them over at maturity. At the end of three years you’ll have three CDs with one maturing every year after that, so you’ll never have all of your money tied up long-term or at lower than market interest rates.
Talk to an HUECU representative today to create a CD Laddering plan that works for you.
Four Reasons to Open a CD
*Annual Percentage Yield. The APY is accurate as of 08/01/22 dividend declaration date. $1000.00 minimum deposit required to open an HUECU certificate. Promotional rate only applies to new money. New money is defined as funds not currently on deposit with HUECU. You must be an HUECU member to receive the advertised APY. Rates may be subject to change. If you do not make a selection of a new certificate prior to the expiration of your certificate promo term, you will be automatically rolled into a certificate of the next highest term length. A penalty may or could be imposed for early certificate withdrawal.
1. New money only. If you do not make a selection of a new certificate prior to the expiration of your 11-month or 15-month certificate promo term, you will be automatically rolled into a certificate of the next highest term length. A penalty may or could be imposed for early certificate withdrawal.