certificate of deposit
Current Promo: For a limited time, enjoy promotional CD rates with flexible terms up to 4.59% APY*
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features you can appreciate
certifiably invested
A Certificate of Deposit (CD) is a type of safe investment savings account with fixed rates and guaranteed return that won’t leave you howling at the Wall Street market boards.
earn more
Look at you go. You possess the rare ability to forgo the now so you can enjoy the later on your own terms.
A SunWest Certificate of Deposit is a safe way to invest and earn big. Simply choose your term and deposit amount, and you’ll have a long-term plan to crush your life goals.
additional tracks
No hidden CD tacks here. You can also consider a CD ladder to diversify your investments and ensure you have semi-liquid access to funds while still taking advantage of high returns.
Instead of committing your total amount to a single CD, you can divvy up those funds across multiple CDs – each with different maturity dates. This strategy slightly decreases the overall dividends earned, but portions of the total sum become available for reinvestment throughout the life of the ladder.
let's do this
Ring, ring. Answer the call and transform your dreams into reality. Get started today with a SunWest Certificate of Deposit. Stop by your nearest branch or give us a call to chat more about your future.
Certificate of Deposit FAQ
What is a certificate of deposit?
A certificate of deposit is a safe investment strategy where you commit to keeping money on deposit for a predetermined amount of time, or “term”. In exchange for locking in the funds, you earn higher dividends than a savings account and which can rival other investments, like stocks.
How does a CD earn interest?
All SunWest CDs are compounding, which means dividends are added to your balance each month, so you earn more money. As your balance grows, so does your return since dividends are calculated on the new, higher balance instead of the original balance.
Can I take money out of my CD early?
The funds are yours and always will be. You can withdraw from your CD before the maturity date, but a penalty will be assessed, and depending on the amount being withdrawn, you may be required to close the CD fully.1
How do I open a certificate of deposit?
For existing members using funds already in a SunWest account, call or visit one of our locations to open a CD and fund it by transfer. If you aren’t yet a SunWest member, you’ll just need to visit a branch to open your account and fund your CD. Your CD will be attached to your membership as a sub-savings, so you’ll always be able to see your balance and maturity date.
Should I invest in a CD?
This type of account is the perfect option for those who have a chunk of money they want to see grow without taking on the risk that comes with other investment opportunities. However, the high APY comes from locking in the funds for the duration of the term. If you think you’ll need to withdraw before the maturity date, a CD may not be the right option for you. Compare with our Money Market as a possible option.
How much risk is it to invest in a certificate of deposit?
Investing in a certificate of deposit is a very low-risk investment. Although the funds are put on hold for the term you choose, you can still withdraw if needed and pay a penalty fee. This fee is only taken from dividends earned, and you will never lose a dollar of your initial deposit amount. Another risk would be if rates increase before your CD matures.
You could withdraw early, lose some of the interest you had accrued and re-invest at the new rate, but make sure to calculate if it’s worth it first.
* APY = Annual Percentage Yield.
1. See a representative or Share Certificate agreement for complete details.
