Certificate of Deposit Accounts

Union Federal offers a wide variety of Certificate of Deposit Accounts (CDs). The CD is a time deposit account that pays interest. The length of time is chosen by the customer, and can range from 91 days to 5 years depending on what fits your goals. Although CDs usually pay a higher rate of interest than a passbook account, they are a time deposit, so they do have a substantial penalty for withdrawing the funds early.

Most Union Federal CDs offer seven (7) grace days after maturity for you to come in and make changes to the account. During this grace period, you may close, transfer, or withdrawal a portion or the entire balance of the CD and the interest earned penalty free. If no action is taken before the end of the grace period, all CDs except negotiated Jumbos automatically renew for the same term with the current rate being offered.

All Union Federal CDs are FDIC insured up to the insurance limits for individual, joint, retirement, and trust accounts. Please check with your nearest Union Federal office to get rate, term, and penalty details for the maturity that interests you.