Upon a CD's maturity date—the date on which you can take your funds out of a CD without incurring any early withdrawal penalties—you will have a few choices:
- You can allow the CD to roll over, or renew. Your money will go back into another CD at the same term length you chose when you first opened it.
- You can choose to put your money into a CD with a different term length, which will also have a different annual percentage yield (APY).
- You can move your money into another account, such as your SCCU Share Savings Account, SCCU Individual Retirement Account (IRA), SCCU Money Market Savings Account, or your SCCU Free or Interest Checking Account.
Whatever you choose to do with the funds in a matured CD, be sure to check the most recent interest rates on the various types of accounts available. Please feel free to visit your nearest SCCU branch location
or contact us for the most up to date information.