The penalties for early withdrawal can be severe. Should you need your money before the expiration of the contractual period, The period is obviously 1-year), you earn a fixed rate or return that cannot change over the course To keep your money tied up with the credit union for a given time period (in the case of 1-year CDs, Credit Union One-Year Certificates of Deposit 2023Ĭredit union certificates of deposit (“CDs”, also commonly called “time deposits” at credit unions) areĬontract-based and time-based savings vehicles that are offered by credit unions.
