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Strengthen your savings with a CD.

  • Posted on August 14, 2019
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In need of boosting your savings? A Certificate of Deposit (CD) may be for you. When you’re trying to bolster your savings, our CDs can be the ideal solution that rewards your patience.

  • CDs feature guaranteed rates of return that are higher than regular savings accounts. The difference with a CD is that you commit to investing your money for a specific amount of time in order to realize the full benefits, anywhere between a few months to a few years. The longer you leave your money invested, the larger your returns.
  • CDs are best when you have money you can set aside untouched for extended periods of time, because, it’s important to note, withdrawing your money before the term ends means incurring penalty fees.
  • Once your term ends and your CD matures, you can either cash out the value or, as many people do, reinvest the money in another CD to continue growing your savings. One popular strategy is called CD laddering, which means opening multiple CDs for various terms so that a CD matures every six months or so. This strategy ensures a steady stream of income every several months in case you need to access your cash.
  • CDs are also appealing because, unless you withdrawal your money before you've earned enough in interest to offset the early withdrawal fees, you will never lose money on your investment. Your rate of return will never decrease during the term, so you’re guaranteed to end up with more money available than when you started. Plus, your money is federally insured to the maximum allowable limits.
  • It's a win-win for your savings.
  • Let’s talk about how our CDs can help you achieve your financial goals. Visit us at a nearby branch or call us at 1-800-UCBANK1 (1-800-822-2651).


Certificate of Deposit Account Registry Service® (CDARS)

Almost anyone who wants to combine the convenience of working directly with just one financial institution with the security of access to FDIC insurance will benefit from CDARS.

When you place a large deposit with us, we place your funds through CDARS into certificates of deposit issued by other financial institutions in the CDARS Network. On July 21, 2010, the deposit insurance coverage for all deposit accounts was permanently raised to $250,000 per depositor, per insured depository institution for each account ownership category.

Insurance coverage for certain retirement accounts, which include all IRA deposit accounts, was increased permanently to $250,000 per depositor in 2006.

  • FDIC Insurance. With CDARS, you can access multi-million-dollar FDIC protection on CD investments.1
  • One Bank. You work directly with us to secure large deposits.
  • One Rate. You earn one interest rate per maturity on CD investments placed through CDARS. With CDARS, there is no need to negotiate multiple rates or manually tally disbursements for each CD.
  • One Statement. You receive one regular statement detailing your CD investments. You no longer need to manually consolidate statements at the end of each month, quarter, or year.
  • No Hidden Fees. There are no hidden fees of any kind. You will not be charged annual fees, subscription fees or transaction fees for using the CDARS service. The rate you see is the rate you get.
  • No Ongoing Collateralization. Because CDARS deposits are eligible for FDIC protection, you may not need to collateralize your deposits. This eliminates the time-consuming task of tracking collateral values on an ongoing basis.2
  • A Wide Variety of Maturities. You can select from various maturities - ranging from 4 weeks to 5 years (260 weeks) - and choose the terms that best suit your investment needs.
  • Community Involvement. Your funds can support local lending initiatives that strengthen the local community.3

Come and see us for more information on CDARS and what it means for your money. 

Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with United Community Bank. The agreement contains important information and conditions regarding the placement of funds by us.

2 If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor's funds through CDARS or a particular CDARS transaction satisfies those restrictions.

3 When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.

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