Certificates of Deposit
For risk-adverse investors, CDs represent a great, low-risk option. The interest rate is fixed for the term of the CD, so you can predict how much you will earn in dividends right from the start. How much you will earn depends on the type of CD you choose, how much you deposit, as well as the length of the term.
- Our flexible terms range from 6 to 60 months
- All CDs require a $1,000 minimum initial deposit
- Jumbo rates are applied to balances of $100,000 or more
- All dividend rates are paid quarterly
- Special Certificates for kids and teens
- Early withdrawal penalties on all CDs may apply
To open an account call us at (602) 264-6421 toll free (866) 264-6421 or visit any of our 9 local branches.
What is a CD Account?
A certificate of deposit account (CD account) is a relatively low-risk investment account. It can act as a savings account for purchases you know you’re making at least 6 months in the future and earns you a higher interest rate than a traditional savings account. Because CD accounts have fixed interest rates, you can know how much your account will grow by based on the length of the investment.
How Do CDs Work?
Basically, a CD is a time-bound deposit at a bank or other financial institution. You agree to leave a designated deposit with a lender like Arizona Central for a fixed amount of time, ranging from 6 to 60 months in exchange for collecting interest as high as 0.80%. This is a higher interest rate than you would receive in a traditional savings account because you are promising not to withdraw the funds. Withdrawing early may be subject to penalties.
How Much Interest Will I Earn on a CD?
Interest rates vary based on length of term and size of deposit. For example, at Arizona Central, a jumbo CD of over $100,000 earns 0.80% APY with a 60 month term, compared to a smaller investment earning 0.70% APY over the same term. Additionally, longer term lengths may have higher interest rates. A 6 month CD of $1,000 up to $100,000 0.25% compared to the 60 month term of 0.70%
Why Choose Arizona Central Credit Union to Save With?
Arizona Central Credit Union has been providing Arizona families in Phoenix and beyond with savings accounts and other financial services since 1939. Whether you already have an account or are just looking for the CD return on investment, Arizona Central, Arizona’s leading local credit union, will be here to help you achieve your savings goals.
Arizona Central Credit Union has 9 branches throughout Arizona, including Phoenix, Glendale, Tempe, Chandler, Flagstaff, Tucson and Show Low. Members have access to 30,000+ surcharge-free ATMs nationwide through the CO-OP ATM network. Arizona Central makes banking accessible & rewarding for all AZ communities.
Savings Options
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