Share Certificate of Deposit

Considered to be one of the safest investments, a share certificate of deposit (CD) provides a handful of unique benefits unto itself.

#1   Higher Returns
While a CD is as easy to get started as a savings account, one of the biggest differences is that it offers better interest rates for greater earnings.

#2  Laddering Ability
One common drawback that savers refer to when discussing certificates of deposit is the fact that it offers less liquidity.  However, by implementing a CD laddering strategy wherein separate CDs of varying maturities (e.g. 6 months, 1 year, 2 years, etc.) are activated, you'll always maintain some level of liquidity as each account matures.

#3  Low Risk
CDs are insured by the federal government; for credit unions, it's the National Credit Union Administration (NCUA) that regulates funds and provides deposit insurance for up to $250,000 per depositor.

#4  CD Varieties
There are many different types of CD products available that can suit your needs.  The Credit Union offers a variety of term duration options from 6 months if you don't necessarily want to commit your funds for the long term to a 2-year certificate of deposit that keeps funds growing year over year. 

Another CD option includes the Three Wishes Share Certificate of Deposit which enables you to bump up the rate, make an additional deposit and withdraw funds without penalty during the CD term.

#5  Locked-In Funds
It may seem like locking savings into a deposit account is a bad idea, however, with so many Americans still struggling to get a starter reserve savings fund up and going, keeping money in the hands-off account, like a CD may pose a huge benefit to those who need an account that cannot be accessed.

Overall, CDs are relatively simple and straightforward way to invest and save.