Exploring the Four Benefits of a Certificate of Deposit 

Certificates of Deposit or CDs are a popular investment vehicle for individuals who want a secure and predictable savings product to grow their money. CDs are known for keeping your funds untouched over a fixed period in exchange for a higher return on funds because the rates are higher than traditional savings accounts. There are many benefits of a certificate of deposit. 

Benefits of certificate of deposit - CCCU in Henderson, NV

Here are four reasons to kick-start your CD:

1. Short-term goals

One of the great benefits of certificate of deposit is its flexibility to choose short terms! From three months to one year, CDs are a perfect tool for short-term goals such as saving for a vacation, wedding or downpayment on a car.

2. Retirement planning at any age

Including CDs as part of your retirement savings strategy can help you meet your retirement goals and create a predictable income stream. These funds can help retirees cover living expenses and enjoy retirement. Use our free retirement calculator to see how much you should save to enjoy retirement.

CCCU also offers an IRA Certificate of Deposit (IRA CD) if you’re seeking an option to benefit your retirement needs without going through your employer.

3. Downpayment on a house

If you have a specific timeline to buy a house, select a CD term that aligns with your homebuying timeline. You can choose short-term CDs with a term of three months to two years, or long-term CDs for three to five years, each with varying interest rates.

4. Investment diversification

Compared to volatile assets like stocks or real estate, CDs are considered a low-risk investment since they provide a guaranteed return of principal and interest if kept untouched until their maturity date. This makes CDs a reliable option for capital preservation. 

Open a CD at CCCU today!

However you plan to invest, CDs provide many benefits and possibilities to grow your money. Please visit our Rates webpage for terms starting at 3 months up to 5 years. Opening a CD account at CCCU is as easy as stopping by a local branch or calling us at 702-228-2228.