Earn our highest rates of return for longer-term savings.
Term Share Certificates (also known as CDs) feature the Credit Union’s highest savings rates. You choose from a variety of terms based on how long you are looking to commit the funds, the longer the term, the higher the interest rate.
Features & Benefits:
- $1,000 minimum to open
- Terms from 3 months to 60 months
- Fixed rate for the term of the Certificate1
- Bonus rates and add-ons available for Crimson Elite Checking holders
- Harvard FCU representatives can help you manage your interest rate risk and liquidity needs with a CD Laddering Strategy
CD Laddering
CD laddering is a smart way to protect yourself against fluctuations in interest rates while giving you the security of knowing that you will be able to access at least some of your money within a relatively short time frame. The beauty of a CD ladder is that you lower your risk and increase your return without losing access to at least some of your cash.
Let’s say you want to open a three year CD ladder with $15,000. You come to Harvard FCU and open a one year CD for $5000, a two year CD for $5000, and a three year CD for $5000. Each year is a rung on the ladder. When the one year CD matures, you reinvest that money in a three year CD because by that time your three year CD has two years left until it matures. As each year’s CD comes due, you roll it into a new three year CD.
You can choose a shorter or longer term when you begin the ladder, but the key is to use the same term for each one once you start rolling them over at maturity. At the end of three years you’ll have three CDs with one maturing every year after that, so you’ll never have all of your money tied up long-term or at lower than market interest rates.
Talk to a Harvard FCU representative today to create a CD Laddering plan that works for you.
1. If any portion of the principal balance is withdrawn early, a penalty will be imposed based on the certificate term. For terms of 12 months or less, the penalty is up to 3 months of interest earned. For terms over 12 months, the penalty is up to 6 months of interest earned.