What Are CDs?

CDs are a low-risk way to save while providing you with a higher rate than a savings account. You pick the term or length of time to keep a lump-sum deposited in the CD, and in return, you are guaranteed a fixed rate. Your money is protected by the U.S. government, up to $250,000, just as with any deposit account. The only risk is a penalty you would have to pay if you withdrew the money before the maturity date or time the CD term was up.
  • Higher yields than savings accounts
  • No monthly service charge
  • $1,000 minimum opening balance
  • Flexible terms, ranging from 3 months to 5 years
  • FDIC insured up to $250,000
  • Individual Retirement Account (IRA) CDs are also available. Contact one of our branches for details. Find a branch.
  • Additional options for deposits over $250,000, and up to $50 million in FDIC coverage, are available through the CD Option of IntraFiSM Network DepositsSM (formerly CDARS®). Contact one of our branches for details. Find a branch.

Personal Certificate of Deposit (CD) FAQs

How does a Certificate of Deposit (CD) work?

CDs are a low-risk way to save while providing you with a higher rate than a savings account. You pick the term or length of time to keep a lump-sum deposited in the CD, and in return, you are guaranteed a fixed rate. Typically, the longer the term, the higher the interest rate. You’ll earn interest on your deposit until it matures at the end of the term, at which point you can collect the full amount.

Does USB offer any special promotional rate CDs?

Yes. Contact any local USB branch to learn about special rates that are available for a limited time only.

Does USB offer Individual Retirement Account (IRA) CDs?

Yes. USB offers IRA CDs with the same variety of terms as regular CDs—from 3 months to 5 years. IRA CD accounts are subject to IRS regulatory qualifications and restrictions. To learn more or to open an IRA CD, contact your local USB branch.

How do I know if a CD is right for me?

CDs work best for savers who are able to put away money that they don’t need to touch for a while. However, Union Savings Bank offers a variety of terms that could accommodate a wide range of savings goals, whether short- or long-term. You will also need to be able to meet the minimum deposit requirement of $1,000.

down arrow Disclaimers

CD rates are subject to change at any time and are not guaranteed until the CD is opened, which is the date of deposit to fund the CD. Interest will begin to accrue on the date of deposit.

*Assumes interest remains on deposit in your account to maturity.  A withdrawal will reduce earnings. Early withdrawals are subject to a penalty fee, please refer to the Consumer Deposit Account Agreement for fee details.

**18-month Variable Rate CD offers a fixed term but a variable rate as rates fluctuate in the market, the CD rate will increase or decrease accordingly. The interest rate and annual percentage yield may change as often as daily, at our discretion. The 18-month Variable Rate CD is not available for online account opening and must be opened at a USB branch only.

IntraFiSM Network DepositsSM are service marks of IntraFi Network LLC