One of the best pathways to building wealth is by opening a Certificate of Deposit, commonly referred to as a CD.
A Certificate of Deposit allows a member to deposit a lump sum of money for a fixed amount of time. Over this time, the money in the account earns periodic interest and is insured by the NCUA. When the account reaches maturity at the end of the term, members may roll the money (the original deposit along with accrued interest) over to a new CD or withdraw it to do with as they choose. There’s no easier way to make money!
Abbey Credit Union offers CDs in terms ranging from 6 months to 5 years with a minimum deposit of $1,000. Penalties may apply for early withdrawal. Please refer to the Disclosure Document provided by an Abbey Credit Union Staff Member for the Terms and Conditions of a Certificate of Deposit.
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