Certificates of Deposit (CDs) make it easy to grow your savings with a fixed interest rate for a set time. CDs usually pay more interest than regular savings accounts because you agree to keep your money in the account until it matures. This makes CDs a good choice if you want a low-risk investment with steady returns.
If you want security, CDs are insured by the National Credit Union Administration (NCUA) up to the legal limit, so your money is protected. This insurance, along with fixed returns, helps you plan your finances with confidence. Choosing the right CD term can match your investment to your goals and help your money work for you.
Exploring CD Terms: Short-Term vs. Long-Term
Knowing the difference between short-term and long-term Certificates of Deposit (CDs) helps you choose the best option. Short-term CDs last from six months to a year. They give you flexibility and let you reinvest if rates go up. These are a good choice if you may need your money soon or do not want to commit for a long time.
Long-term CDs last from two to five years or even longer. They usually pay higher interest rates, so they are a good fit if you want to earn more and do not need your money right away. No matter which term you choose, CDs give you fixed rates and steady earnings.
Elevate Your Savings with Flexibility and Higher Returns
If you want the high-yield benefits of a long-term investment but still need easy access to your money, our Elevate Money Market account is the perfect solution. Unlike a traditional CD where your funds are locked away for a set term, the Elevate Money Market account gives you the best of both worlds: competitive interest rates that help your balance grow faster and the flexibility to access your funds when you need them. At our Tulsa branches, our financial experts can show you how an Elevate Money Market account provides the security you expect with the liquid access you deserve. It’s a smart way to maximize your returns without the wait of a maturity date.
Local Expertise and Support in Tulsa
At our Tulsa locations, our team of financial professionals is here to guide you through Certificates of Deposit. They offer personal service to help you understand your CD options and find what works best for you. Whether you are new to investing or have experience, our local specialists are ready to support you.
How to Get Started With CDs in Tulsa
Getting started with CDs in Tulsa is easy. Look at our current CD specials to find rates and terms that fit your plan. After you choose, you can open a CD online or visit a Tulsa branch for help. Our team is here to make the process smooth and simple.
Locking in CD rates is a safe and steady way to grow your savings. Our local experts can help you create a CD plan that fits your goals. Set up a meeting with an OCCU savings specialist to learn about your options and start building your financial future.
Image credit: // Shutterstock // Miljan Zivkovic
