Pictured from One Community Bank is Shelley Edgington, SVP - Retail Banking and Carrie Schraeder, VP - Retail Banking
If you’re sitting on cash that you don’t need to access right away, it’s wise to invest your money so it can grow. Uninvested money typically loses its value as inflation rises over time.
One option to grow your money is through a certificate of deposit account. This time-honored, low-risk investment product offers returns far greater than a standard savings account, and it does so without the volatility of the stock market.
When it comes to choosing where to open your CD account, consumers can count on One Community Bank for their financial needs. One Community Bank offers CD accounts with personalized benefits and a strong focus on community impact.
How CDs work
A CD is a time-based deposit account that typically offers a higher interest rate than a regular savings account. In exchange, the client agrees not to withdraw the funds for a set period. One Community Bank offers CDs for terms from 91 days up to five years.
“It’s a great option if you know you won’t need that money for a while,” said Shelley Edgington, One Community Bank’s senior vice president of retail banking. “You can earn significantly more interest than letting it sit in a savings account.”
CDs offer fixed rates. You’ll know exactly what you’re earning from day ONE of opening the account to the day it matures. CD accounts are federally insured by the FDIC. The FDIC insures deposits at member banks, up to $250,000 per depositor, per insured bank, per ownership category, making them a suitable option for risk-averse savers looking to diversify their financial portfolio.
“With a CD, your money is safe, you know your rate and you know what you’re going to get back,” said Carrie Schraeder, vice president and retail banking manager at One Community Bank. “With the market as unpredictable as it is, a CD offers peace of mind you can’t get with stocks or bonds.”
Unique perks from a one-of-a-kind bank
While many financial institutions offer CDs, few do it like One Community Bank. For instance, One Community Bank allows clients to make additional deposits to some of their CD accounts after they are opened.
One Community Bank also makes it easy for existing clients to open new CDs with money they already have in savings and checking accounts. Many banks require “new money” to take advantage of CD specials. “At One Community Bank, we offer great rates for both new and existing clients. We’ll help you grow your savings using the funds you already have,” Edgington said.
Beyond that, there’s the human touch. Colleagues at One Community Bank strive to build real relationships with clients. That’s something you won’t find at a national bank.
“If a client tells us they just had a grandchild, we’ll talk about ways to save for that child’s future,” Schraeder said. “We’re looking for ways to benefit them and their long-term financial well-being.”
Opening a CD account is easy. Clients can visit any One Community Bank location with a valid ID or use the bank’s online platform to get started in minutes.
