Certificates of deposit, or CDs, typically have the highest interest rates among government-insured savings products. And here at Adventure Credit Union in Grand Rapids and Lansing, MI, we offer a variety of CDs plus high yield CD specials. CDs are ideal for people who want to bolster their nest egg without assuming much risk. Building a CD ladder can be a useful tactic to further personalize your savings strategy.
While your money is locked away, interest rates could increase. Or an emergency might leave you in need of that cash. CD laddering addresses these concerns.
CD laddering involves buying CDs that mature at staggered dates, rather than a single long-term CD. This strategy provides several benefits:
- Liquidity: Your cash will be available to you at frequent intervals
- Flexibility: You can decide how you want to split up your investments
- Better interest rates: You’ll be able to choose longer-term CDs with higher rates and still have certificates maturing on a regular basis
- Peace of mind: If interest rates go up, you’ll have cash to invest in new CDs. And if rates fall, you still have money invested in long-term CDs that come with higher rates
Contact us for more information.