Certificates of Deposit

What is a Certificate of Deposit (CD)?

Certificates of Deposit or CDs are termed savings accounts that offer higher rates than traditional savings accounts. They offer complete safety of principal* and the rate is fixed for the entire term of the account.  Additionally, all CDs are insured up to the FDIC limit.

*For this type of account, penalties may be imposed for withdrawals made or closing the account prior to maturity.

 

What are your options at maturity?

Maturity is when the CD comes to the end of its term. At this time, you will receive a renewal notice in the mail that lists what your options are. These options include:

  • Renew your CD for the same term at the current rate.
  • Add or withdraw funds.
  • Change the term.
  • Transfer the money to another WVFSL account.

What are the CD term lengths?

Wallkill Valley Federal Savings and Loan offers CD accounts with a variety of term lengths including:

  • 6 Month
  • 12 Month
  • 18 Month
  • 24 Month
  • 30 Month
  • 36 Month
  • 48 Month
  • 60 Month

For the most up-to-date rate information click Deposit Rates

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