NorthRidge Community Credit Union offers certificate of deposit accounts. A certificate of deposit (aka: CD) is a savings account that holds a fixed amount of money for a specified period of time. Most CDs have a minimum term of six months and can go up to five years. View the rate table below to see what CD terms NorthRidge can offer! CDs are interest-earning accounts, so when you cash in or redeem your CD, you receive the money you originally invested plus interest! This is a great way to take advantage of compound interest.
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Costs and Considerations
Early Withdrawal fees:
Terms less than 12 months: 90 days dividends
Terms greater than 12 months: 180 days dividends
There is a minimum deposit to open a CD
6 months: $500
Terms greater than 12 months: $1000
Features and Benefits
CDs earn higher interest rate than a typical savings account
There is a 10-day grace period after a CD matures to renew or cash out.
*APY = Annual Percentage Yield
After a CD matures, you have a grace period of 10 days to come in and change or cash out your funds.