Certificates of Deposit
Feather your nest, risk-free.
That’s right. Grow your nest egg and receive a guaranteed rate of return. All you have to do is pick your term (or terms, since you can have multiple Certificates working for you at the same time). Make a minimum initial deposit of just $500 per Certificate. Then, watch your interest accumulate.
With CU of NJ Certificates:
- We offer terms from three months all the way to 60 months.*
- Typically, the longer the term, the stronger your APY (Annual Percentage Yield) will be.
- When you open a Certificate for at least $100,000, you’ll receive a higher APY as well.
Here’s a smart way to get Certificates working harder for you. It’s a strategy called “laddering.”
- Say you have $25,000 to invest.
- If you put $5,000 into a 12-Month Certificate, another $5,000 into a 24-Month Certificate, the third $5,000 into a 36-Month Certificate, the fourth $5,000 into a 48-Month Certificate, and the last $5,000 into a 60-Month Certificate, you’ll have a Certificate maturing each year for the next five years.
- As each Certificate matures, roll it back into a 60-Month Certificate.
- You’ll still have Certificates maturing each year, so your $25,000 is not fully tied up. But by the end of that fifth year, all of your Certificates will be earning at the 60-Month dividend rate.
Penalty applies for early withdrawal.