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.
ready. set. go.
Life is calling. Prepare to answer with a SunWest Credit Union Certificate of Deposit.
features you can appreciate
DIRECT DEPOSIT
overdraft protection
mobile banking
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certifiably invested
A Certificate of Deposit is a safe investment option with fixed rates and guaranteed return that won’t leave you howling at the Wall Street market boards.
earn fearlessly
Deposit as low as $500 for any of our terms. Tiptoe into a sea of savings without fear of shark-infested waters.
your life, your terms
Terms start as short as 6 months and can go as high as 5 years with higher terms typically earn higher rates. Set your pace.
rest assured
SunWest Credit Union Certificates of Deposit are insured by the NCUA up to $250,000 per account owner. Invest with assurance.
guaranteed rate
With 3 free withdrawals per month, you have flexible access to your money when you need it. Subsequent withdrawals are $5 each until the month resets.
the limit does not exist
There is no limit on the number of CDs you can have at SunWest. You can even build a CD ladder of various certificate terms for more flexibility. Bonds are out, CDs are in.
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. Fortunately, for your finances and your happiness, you’ve stumbled upon a local Arizona credit union that has everything you need to continue on the path to financial wellness.
A SunWest Certificate of Deposit is a safe way to invest and earn big. Although we don’t normally encourage a “set it and forget it” mindset when it comes to banking, CDs allow you to do just that. Simply choose your term and deposit amount, and you’ll have a long-term plan to crush your life goals.
Want to pay off your mortgage by age 45? Planning to travel the world? We have the savings account you need to make it all possible.
anything else i should know?
We can talk about saving money until the Cardinals win a Superbowl, or until your three-year-old finishes telling you a story, but we know you can’t wait around for a miracle so let’s get to it.
Diversifying your portfolio can be a good way to ensure you have semi-liquid access to funds, while also building your returns in a sustainable way. Instead of committing your total amount to a single CD, you can divvy up those funds across multiple CDs – each with different maturity dates. While this strategy slightly decreases the overall dividends earned, 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.Toll-Free:
Certificate of Deposit FAQ
what is a money market account?
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.*
what happens when my cd matures?
When your CD matures, you have 10 days to decide where the money goes next on its journey. If you do nothing, it will automatically renew at whatever the rate is at that time. Otherwise, you can withdraw funds with no penalty.
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.
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.
