Certificates of Deposit (CDs)

Certificate of Deposit Account in Des Moines, IA

A certificate of deposit (CD) may be an excellent product to have for your investment portfolio. It offers something different - a guaranteed rate, for a specific period of time, on federally insured deposits. CDs are a great option for those just starting out with investing who don’t want to jump right into the volatile stock market. This is because, unlike stocks with where it’s possible to gain or lose large sums all in a day of trading, money put into a CD will continue to grow predictably. 

There are many benefits—and not just for investors—to opening a CD account here at Financial Plus. A Certificate of Deposit requires you to lock your funds away for a specific period of time until a maturity date. In return, you'll get a higher interest rate on the money in your account. A CD is designed to increase your savings because, regardless of what the market does, money you put into a certificate of deposit grows thanks to its superpower: interest. CDs from credit unions are backed by the full faith and credit of the U.S. government up to $250,000 per depositor, per insured bank, per ownership category. This essentially amounts to bank-subsidized investment insurance. Another benefit of a certificate of deposit account is that you can count on it to deliver a specific yield at a specific time. No matter what happens when the time is “up,” you’ll have a specific amount of money set aside that has not been touched or accessed.  

Saving and budgeting are essential to financial stability. Sometimes, we need the discipline of setting money aside, and having a certificate of deposit account can help you put money away for a specific purpose without the temptation of withdrawing the funds whenever you'd like. That kind of stability may be the piece that makes your financial puzzle whole!  

At Financial Plus, you can earn fixed and variable dividend rates, with terms ranging from three to five years. Best of all, you can open a certificate of deposit with as little as $500!

Certificate Specials

Terms (Months) Balance Rate APY
9 Months Minimum $1,000 balance required 4.60% 4.71%
15 Months Minimum $5,000 balance required 4.75% 4.86%
27 Months Minimum $5,000 balance required 4.25% 4.34%

New Money only brought in from other financials; no existing funds are eligible. Current rates as of 06/17/24

Regular & IRA Certificates

APY is accurate as of the last dividend declaration date.
Dividends are paid on 3 and 6-month certificates at maturity and 12-month and longer dividends are posted quarterly. Current rates as of 9/20/23

Terms (Months) Balance Rate APY
3 months Minimum $2,000 balance required 0.65% 0.65%
6 months Minimum $2,000 balance required 0.75% 0.75%
12 months Minimum $500 balance required 1.30% 1.31%
24 months Minimum $500 balance required 4.20% 4.29%
36 months  Minimum $500 balance required 1.90% 1.92%
48 months Minimum $500 balance required 1.95% 1.97%
60 months Minimum $500 balance required 2.00% 2.02%

Special Certificates

Terms (Months) Balance Rate APY
18 months Minimum $5,000 balance required 1.30 1.31%

Variable Regular & IRA Certificates**

Terms (Months) Balance Rate APY
48 Month Variable Certificate Minimum $500 balance required 1.95% 1.97%
60 Month Variable Certificate Minimum $500 balance required 2.00% 2.02%
60 Month Variable Education Certificate Minimum $100 balance required 2.00% 2.02%

The annual percentage yield (APY) is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the dividend rate and annual percentage yield may change at any time as determined by the Credit Union's Board of Directors. The dividend rates and annual percentage yields listed above are the rates and yields approved at the last Board of Director's meeting to take effect on the date above. The Plus Checking and Money Market accounts are tiered rate accounts. The balance ranges, dividend rates, and annual percentage yields for each tier are listed above. Once a particular balance range is met, the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account. Balance ranges may change at any time as determined by the Credit Union's Board of Directors. Maintenance or activity fees could reduce the earnings on an account. A penalty may be imposed for early withdrawal of share certificates. Withdrawal of earnings could reduce the APY. Please see the fee schedule for fees related to these accounts.