Certificate of Deposit

Special CD Rate

Lock in a great rate and watch your savings grow!

15-Month CD – 4.30% APY*

$1,000 Minimum Deposit

Move your savings into a Bridge Credit Union Certificate of Deposit (CD) and make your money work harder. Simply pick a term length that aligns with your financial goals and rely on us to bring you competitive fixed rates that help you plan with total confidence.

Open a certificate today.

You can open a certificate online, over the phone, or in person.

Benefits of CD

  • Fixed rate for the entire term
  • Secure your rate, even if rates get cut again
  • Existing money eligible with new money match
  • Less risky than stocks & bonds
  • No fees to keep CD open
  • Competitive rates, higher returns

Savings, Certificate, & Loan Rates

We continually monitor our rates and change them as appropriate. Check back regularly for updates.

VIEW RATES

*APY=Annual Percentage Yield. Money currently deposited at Bridge CU is eligible for deposit into this promotional certificate when a matching, or greater sum of new money is deposited at the same time. For example, when you transfer $5,000 into this certificate that was already on deposit at Bridge CU, you must also deposit $5,000 new money. It must be a dollar-for-dollar match, or greater. New money is defined as funds that have not been deposited at Bridge CU in the last 6 months. Offer and rates are subject to change without notice. Fees and penalties may apply for early withdrawal. Early withdrawal fees and penalties will reduce earnings. 15-Month certificate will automatically renew to a 12-month term at maturity with an APY reflective of posted rates at time of renewal. Federally Insured by NCUA.

What is a CD? (Certificate of Deposit)

A CD is a type of savings account. You deposit a lump sum of money for a fixed amount of time with a fixed interest rate. They are attractive because they typically have a higher interest rate than a regular savings account, and they are less risky than the unexpected fluctuations with stocks and bonds.

Are there any fees or penalties?

When you open a CD, you agree to leave your money in the account for a fixed amount of time to avoid a penalty. There usually are no monthly fees to keep a CD open.

What are the terms?

The terms for CDs can range from 3 months, and sometimes up to 5 years, depending on the financial institution. You are not allowed to add more money after you open the account, however you can own multiple CD accounts with different terms.

How much money should I put into a CD?

The amount you invest depends on your savings goals. It’s always a good idea to add in more money than just the required minimum, if possible.

Cash Investment in Bank

Are there different types of CDs?

According to NerdWallet, “some CDs have an unusual feature, such as a no-penalty CD that doesn’t charge for early withdrawals or a bump-up CD that allows for a rate increase during a term.” https://www.nerdwallet.com/article/banking/cd-certificate-of-deposit

There are also IRA CDs (Individual Retirement Account) and Jumbo CDs (require a large minimum deposit). Banks and credit unions offer a variety of specialty CDs with different structures and rules.

When can I take my money out of a CD without penalty, and what happens if I don’t?

When a CD reaches the end of its set term, it has matured (expired). Once maturity of the cd happens, you typically have a grace period to withdraw the money. After the grace period is over, most CDs automatically renew for the same or similar term as when you first opened it. Keep in mind the rate may be based on the rate for new CDs of that term, and not necessarily the rate of your original CD.

Information above was obtained from the following sources:
https://www.nerdwallet.com/article/banking/cd-certificate-of-deposit
https://www.investopedia.com/what-are-the-different-types-of-specialty-certificates-of-deposit-cd-5525646
https://www.investopedia.com/terms/c/certificateofdeposit.asp

Open a certificate today.

You can open a certificate online, over the phone, or in person.

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