Certificates of Deposit
When you want your savings to grow without the ups and downs of the stock market, a certificate of deposit puts you in control. GICU's high-rate CDs let you lock in a guaranteed, fixed rate of return for a term that fits your goals, whether you're saving for six months or building toward something bigger.
As a member-owned Iowa credit union, we're able to offer some of the best CD rates near you, backed by people who live and work in your community. Choose your term, open your certificate, and watch your money work harder.
Certificate Specials
Why Choose a GICU Certificate of Deposit?
A certificate of deposit (CD) is one of the simplest, safest ways to grow your savings. Here's what makes GICU certificates a smart choice:
- Guaranteed, fixed rates. Your rate is locked in the day you open your CD, so you know exactly what you'll earn.
- Flexible terms. Choose a term that matches your timeline, from short-term certificates to longer terms that maximize your earnings.
- Competitive CD rates. As a not-for-profit credit union, we return value to our members through strong rates and low fees.
- Local and member-owned. When you bank with GICU, you're banking with neighbors. Get the best CD rates near you with branches and service right here in Iowa.
- Safe and insured. Your deposits are federally insured up to $250,000 by the National Credit Union Administration (NCUA), with additional coverage through Excess Share Insurance.
Certificates of Deposit FAQs
- What are certificates of deposit?
Certificates of deposit are savings products offered by banks and credit unions that let you earn a guaranteed return over a fixed term. You agree to leave a lump-sum deposit in the account for a set period, anywhere from a few months to several years, and in return you receive a fixed interest rate. They're a great option if you want your savings to grow steadily and safely without exposure to stock market volatility.
- How do certificates of deposit work?
Certificates of deposit work by rewarding you for leaving your money untouched for a set term. You choose a term length, deposit your funds, and earn a fixed rate of return for the life of the certificate. At GICU, interest is compounded monthly unless paid directly to you. The longer you're able to leave your money in, the more your savings can grow. Just keep in mind that withdrawing funds before the term ends may result in an early withdrawal penalty.
- Are CDs insured?
Yes. Certificates of deposit are insured, which makes them one of the safest places to put your savings. At banks, CDs are insured by the FDIC. At credit unions like GICU, your certificates are federally insured up to $250,000 by the National Credit Union Administration (NCUA), the credit union equivalent of FDIC insurance, and GICU provides additional coverage through Excess Share Insurance. So while GICU CDs aren't FDIC-insured, they carry the same $250,000 federal protection through the NCUA.
- What is the difference between a CD and a savings account?
Both help you grow your money, but they work differently. A savings account lets you deposit and withdraw funds freely while earning a variable interest rate that can change over time. A CD requires you to leave your money in place for a fixed term in exchange for a higher, guaranteed fixed rate. If you want flexibility, a savings account may be the better fit; if you want a higher, predictable return and don't need the money right away, a CD is often the smarter choice.
- How do I get the best CD rates near me?
The best CD rates near you often come from local credit unions, which are member-owned and not-for-profit. Because GICU returns earnings to members rather than shareholders, we're able to offer competitive certificate rates to Iowans. Check our current rates, or contact a local GICU branch to find the term and rate that fits your savings goals.
Come into a GICU branch or contact us online to learn more and open your account.
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