Certificate of Deposit

At Embers Credit Union, you need a minimum deposit of $1,000 to open a CD, also known as a certificate account. A CD is a savings option that lets you earn a fixed interest rate for a set term, making it a good choice for money you want to grow but do not need to access right away.

At Embers Credit Union, CD dividends are paid monthly directly into your certificate account. Because those dividends stay in the CD, they become part of your balance and can earn additional dividends over time through compound interest. This means your certificate can grow on both your original deposit and the dividends already added to the account.

Embers Credit Union offers certificate of deposit (CD) accounts for members across the Upper Peninsula, with local branch access in Marquette, Escanaba, Munising, Negaunee, Gwinn, Manistique, and Wells, plus online account opening when you’d rather get started from home!

If you’re searching for a savings account near you in Marquette, Escanaba, Munising, or anywhere in the UP, Embers is here to help make everyday banking simple.

If you withdraw funds from an Embers Credit Union CD before the maturity date, an early withdrawal penalty may apply. At Embers, the penalty may be up to half of the dividends that would be earned over the full term of the certificate.

Nationally, CD early withdrawal penalties often vary by financial institution and term length. Many banks and credit unions charge a penalty based on a set number of days or months of interest, commonly ranging from about 90 days of interest for shorter-term CDs to 180 days or more for longer-term CDs. Because penalties can reduce your total earnings, it’s important to choose a CD term that fits when you expect to need access to your money.

Yes. At Embers Credit Union, CDs, also known as certificate accounts, are federally insured by the National Credit Union Administration, or NCUA. NCUA share insurance protects eligible deposit accounts at federally insured credit unions up to at least $250,000 per member-owner, per ownership category.

That means your Embers certificate account is protected like other insured credit union deposit accounts, giving you a safe, steady way to grow your savings over a set term.

CD rates are usually calculated based on several factors, including current market interest rates, the economy, inflation, competition, and the length of the CD term. In general, financial institutions may offer different CD rates depending on how long you agree to keep your money in the account and what is happening in the broader rate environment.

At Embers Credit Union, our certificate rates are calculated from a formula that takes economic and market data into consideration. This helps us offer competitive certificate rates while keeping the account structure steady, predictable, and aligned with the term you choose.

Certificates of deposit, or CDs, can be a strong option if you want a safe, predictable way to grow your savings over a set period of time. With a CD, you deposit money for a specific term and earn a fixed rate during that term, making it easier to plan ahead without worrying about market ups and downs.

Some of the main advantages include:

Predictable earnings.
CDs typically offer a fixed rate for a set term, so you know what rate your money will earn from the start. That can make CDs useful for planned savings goals like a future trip, home project, vehicle purchase, wedding, or emergency fund boost.

Higher rates than standard savings accounts.
Because you agree to keep your money in the CD for a specific period of time, CDs often offer higher rates than traditional savings accounts. That gives your money more room to grow while still keeping the account structure simple.

Protection from rate drops.
If rates go down after you open your CD, your fixed rate stays the same through the term. That can be helpful when you want to lock in a rate and avoid the uncertainty of changing savings rates.

Safety and federal insurance.
CDs at federally insured credit unions are insured by the NCUA, typically up to at least $250,000 per member-owner, per ownership category. That makes CDs one of the more secure ways to save.

Built-in savings discipline.
Since CDs are designed to stay in place until maturity, they can help you avoid dipping into savings too soon. Early withdrawals may come with a penalty, so it’s important to choose a term that fits when you expect to need the money.

Flexible term options.
CDs come in different term lengths, so you can choose one based on your timeline. At Embers Credit Union, certificate terms range from 6 months to 60 months, giving you options whether you’re saving for something soon or planning farther ahead.

At Embers Credit Union, our certificates are built for members who want steady growth, clear terms, and a secure place to save. Whether you’re setting money aside for a specific goal or just want your savings to earn more over time, an Embers certificate can help you lock in a rate and choose a term that fits your plan