Certificates of Deposit
When you invest in a Rivermark Certificate of Deposit, you'll earn a guaranteed interest rate for the term of your CD. And you can rest easy knowing your principal is federally insured.
- Higher rates than Savings or Money Market Accounts
- Low $500 minimum to open ($100 for youth accounts)
- Terms from six months to three years
- Federally insured up to $250,000 by the National Credit Union Administration
One way to maximize your interest income is with a strategy called CD laddering. Over time, it's an easy way to earn a higher rate without locking up all your money into a single long term certificate.
For example, instead of opening one 3-year CD for $15,000, you would divide your initial deposit into three equal CD's.
- Open one CD for $5,000 with a 3-year term
- Open a second CD for $5,000 with a 2-year term
- Open a third CD for $5,000 with a 1-year term
When your 1-year CD matures, you would roll that $5,000 into a new 3-year certificate. After three years, all of your certificates will be earning the higher three year rate of interest at that time and you'll always have access to $5,000 of your money within one year.