Certificates of Deposit
CD’s provide an interest rate premium over a predetermined period of time
A Safe & Effective Way to Invest
For a limited time, get the following special rates when you open a new CD:
| Term | Rate | APY* |
|---|---|---|
| 6 Months Add-on |
4.51% | 4.60% |
| 11 Months Add-on |
4.28% | 4.35% |
| 15 Months | 4.09% | 4.15% |
| 23 Months | 3.00% | 3.03% |
| 33 Months | 2.48% | 2.50% |
| 45 Months | 2.23% | 2.25% |
No bump-up option available on any special rates. *Add-on = unlimited deposits into a CD account during the maturity term. On the 6-month CD interest compounds monthly and interest is credited at maturity. CD = Certificate of Deposit. *APY = Annual Percentage Yield. Effective as of 12/13/2024. Frontier Credit Union reserves the right to end, alter, or otherwise adjust this promotional offer at any time and at their discretion. View Rate & Fee Schedule.
Special CD Rates
For a limited time, take advantage of the following special rates when you open a new CD in branch:
| Term | Rate | APY* |
|---|---|---|
| 6 Months Add-on |
4.51% | 4.60% |
| 11 Months Add-on |
4.28% | 4.35% |
| 15 Months | 4.09% | 4.15% |
| 23 Months | 3.00% | 3.03% |
| 33 Months | 2.48% | 2.50% |
| 45 Months | 2.23% | 2.25% |
No bump-up option available on any special rates. *Add-on = unlimited deposits into a CD account during the maturity term. On the 6-month CD interest compounds monthly and interest is credited at maturity. CD = Certificate of Deposit. *APY = Annual Percentage Yield. Effective as of 12/13/2024. Frontier Credit Union reserves the right to end, alter, or otherwise adjust this promotional offer at any time and at their discretion. View Rate & Fee Schedule.
Standard CD Rates
| Term | Rate | APY* |
|---|---|---|
| 6 Months | 1.00% | 1.00% |
| 1 Year | 1.25% | 1.26% |
| 2 Years | 1.75% | 1.76% |
| 3 Years | 2.25% | 2.27% |
| 4 Years | 2.10% | 2.12% |
| 5 Years | 2.00% | 2.02% |
*APY = Annual Percentage Yield. Effective as of 02/27/2024. Frontier Credit Union reserves the right to end, alter, or otherwise adjust this promotional offer at any time and at its discretion. View Rate & Fee Schedule.
How CD’s Work
A Certificate of Deposit (CD) is a product offered by Frontier Credit Union that provides an interest rate premium in exchange for the member agreeing to leave a lump-sum deposit untouched for a predetermined period of time.
The longer the CD term, the higher the interest rate you can earn
The annual percentage yield (APY) for CDs is typically fixed, meaning you earn the same rate for the entire CD term.
Once a CD matures, you’re free to withdraw the money you saved, along with interest earned.
Pros of Using a CD for Savings
Safety
Along with savings accounts and money market accounts, CDs are some of the safest places to keep your money. That’s because money held in a CD is insured for up to $250,000 per depositor. With the current state of the stock market, you can’t beat the security of a CD right now.
Guaranteed Returns
CD accounts offer predictability in that it’s relatively easy to determine how much interest you’ll earn over time, since rates are typically fixed for the entire term. Certificate of deposit calculators allow you to plug in the amount you’re saving and your APY to gauge how much your money will grow.
Higher Rates
Compared to savings accounts or money market accounts, CDs potentially can offer higher interest rates on deposits. That’s because you agree to keep your money in the CD for a set time period. The interest rate and APY you earn depends on the bank, the CD term and the current interest rate environment.
CD Laddering
CD laddering is a savvy savings technique that allows you to keep your money liquid and accessible while taking interest rate changes into account. When you build a CD ladder, you’re essentially opening multiple CDs at different interest rates and with varying dates of maturity.
