Start Saving with Certificates of Deposit (CD) at Zing Credit Union

A Certificate of Deposit (CD) is a financial savings product that allows you to earn a fixed interest rate over a specified period. As a type of time deposit, you agree to keep your money in the account for a set duration, which can range from 3 months to five years. In exchange, we pay you interest on your deposit, typically at a higher rate than a regular savings account.

How to pick the best CD term for you

CD terms refer to the length of time your money is locked into the certificate of deposit. During this period, there may be penalties for early withdrawal. Read the terms and conditions carefully to understand potential penalties and their impact on your savings.

When choosing the right CD term, consider your financial goals and timeline. CDs typically offer higher interest rates for longer terms, but your money will be locked in for the duration. If you’ll need access to your funds soon, opt for a shorter term to avoid early withdrawal penalties. For longer-term goals, a longer-term CD could be more beneficial, as it usually comes with a higher return. Also, think about the
current interest rate environment—if rates are rising, a shorter-term CD may be wise so you can reinvest at higher rates later.

Reasons to open a Certificate of Deposit (CD)

Higher interest rates

For those seeking a secure and reliable way to grow their savings, opening a certificate of deposit can be a smart financial move. CDs offer several advantages, making them an attractive option for earning higher interest rates on savings.

Guaranteed returns

One of the main benefits of a CD is the guaranteed return on investment. Unlike other savings accounts, certificates of deposit have a fixed interest rate for a specified term, typically ranging from a few months to several years. This allows you to lock in a higher interest rate and watch your savings grow over time.

Boosting your savings

CDs also help you stay disciplined and focused on your financial goals. Whether saving for a down payment on a house, planning for retirement, or funding a major purchase, certificates of deposit can keep you on track by preventing impulsive withdrawals.

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Do your research!

Find out what term aligns with your goals and which rate will earn you the best interest.

Start with just $100

All you need is $100 to start saving, but higher balances will earn you more interest.

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Come in person or fill out the application below to lock in your rate and term.

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Zing Credit union is the best banking service I have ever known. From the smiling faces that greet me at the tellers to the loan officers, I have had the best experience over the years.
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Start Saving with Certificates of Deposit (CD) at Zing Credit Union Disclosures

* Contribution and rollover deposit are allowed at any time when invested in an IRA certificate of deposit with any term of 36 months or greater with a minimum transaction amount of $25.

**APY is Annual Percentage Yield. Promotional certificate will automatically renew to a 12-month certificate at the rate available for that term at the time of renewal. Promotional certificate is available for a limited time. Zing Credit Union reserves the right to change or end the offering at any time. Subject to early withdrawal penalties of 180 days’ interest.

Truth In Savings Disclosure

TRUTH IN SAVINGS DISCLOSURE

Except as specifically described, the following disclosures apply to all the accounts.

Rate Information. The dividend rate, or interest rate, and annual percentage yield on your accounts are set forth on the reverse side. The annual percentage yield is a percentage rate that reflects the total amount of dividends/interest to be paid on an account based on the dividend/interest rate and frequency of compounding for an annual period. For Certificates of Deposit and IRA Certificates of Deposit, the interest rate and annual percentage yield are fixed and will be in effect for the term of the account. The annual percentage yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Nature of Dividends. Dividends are paid from current income and available earnings after providing for the required reserves. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
Compounding and Crediting. Interest and dividends will be compounded and credited as set forth on the reverse side. The dividend/interest period for each account is also set forth on our Rate and Fee Schedule. The dividend/interest period begins on the first calendar day of the period and ends on the last calendar day of the period.
Balance Information. The minimum balance required to open each account is set forth. Interest is calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
Accrual of Dividends. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on noncash deposits (checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
Account Limitations. The account limitations for each account are set forth in our Membership and Account Agreement
Your account will mature on the maturity date set forth on your account receipt or renewal notice.
Early Withdrawal Penalties. A penalty may be imposed if you withdraw any of the certificate funds before the maturity date or the renewal date, if this is a renewal account.
Amount of Penalty. For Certificates of Deposit and IRA Certificates of Deposit the amount of the early withdrawal penalty for your account is 90 days’ interest for a term of 12 months or less, and 180 days’ interest for a term over 12 months.
How the Penalty Works. The penalty is calculated as a forfeiture of part or all of the interest that have been earned on the account. This penalty applies to earned interest and principal.
Renewal Policy. Certificate of Deposit accounts will automatically renew for another term upon maturity. You have a grace period of seven days in which to change or withdraw the funds without being charged an early withdrawal penalty.
Exception to Early Withdrawal Penalties. At our option, we may redeem the account before maturity without imposing an early withdrawal penalty under the following circumstances:
- When an account owner dies
- or is determined legally incompetent by a court
- or other body of competent jurisdiction.
Nontransferable / Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner except obligations with the Credit Union.
FEES FOR OVERDRAWN ACCOUNTS. Fees may be imposed on each check, draft item, ATM card withdrawal, debit card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or payment of a check, draft or item. You may consult the Funds Availability Policy for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approval limit. Please refer to the Rate and Fee Schedule for current fee information.

Checking Comparison Chart

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Preferred Checking

Clear Card

Second Chance Checking

Minimum Opening Balance

Suggested opening amount- $25

ID Safe Choice Charge Possible

Yes

Direct Deposit

Accepted and encouraged

Dividends Paid

Privilege Pay

Available after 90 days

Overdraft LOC

Available immediately, with approved credit

ATM/Debit Card

Instant Issue

Shared Branching

Available

Free Bill Payer

Available

Mile High APY

Yes

N/A

Yes

5 Buck Club

Yes

Certificates of Deposit (CDs)

Investing without the headache

What is a Certificate of Deposit (CD)?