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• You may have to contact your carrier to enable short codes on your device.
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A CD (certificate of deposit)^* is a time deposit, a financial product commonly offered to consumers by financial institutions. Typically, CDs are insured by the NCUA for credit unions and the FDIC for banks. When insured, CDs are similar to savings accounts in that they carry less risk than equities. They are different from savings accounts in that the CD has a specific, fixed term, and usually, a fixed interest rate. It’s intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest. In exchange for keeping the money on deposit for the agreed-upon term, institutions usually grant higher interest rates than they do on other interest-bearing deposit accounts from which money may be withdrawn on demand. Fixed rates are common, but some financial institutions offer CDs with various forms of variable rates, like our own 36-month Step-Up CD option.

*CDs offered through financial institutions offer a fixed rate of return if held to maturity, whereas the return and principal value of an investment in equities fluctuates with changes in market conditions.

Please access your CURewards account through digital banking for rules regarding points usage and expiration.

Interest rates fluctuate based on a variety of factors, including inflation, the pace of economic growth, and Federal Reserve policy. Over time, inflation has the largest influence on the level of interest rates. A modest rate of inflation will almost always lead to low interest rates, while concerns about rising inflation normally cause interest rates to increase. Our nation’s central bank, the Federal Reserve, implements policies designed to manage inflation and interest rates.