Congratulations to recent high school and college graduates! You’ve reached an exciting milestone and have a bright future ahead of you. MSGCU wants to help you start the next chapter on the right financial path, whether you’re heading to college or entering the workforce.
An important part of establishing a solid financial future is saving. If you received money as a graduation gift, or you’ve been saving up from working, consider opening an MSGCU Certificate of Deposit or “CD.” A CD is a type of deposit you can’t touch for a specific period of time, called a term, and withdrawing money early can result in paying a penalty (which is a great motivator to help keep your money in your CD versus spending it). CDs are a great savings option for younger savers since they provide guaranteed returns, meaning the money you put in, or invest, will make more money for you because of compounding interest.
Compound interest is very helpful when it comes to growing your money. It happens when your savings earns interest, and then that interest earns even more interest. For example, if you put $100 in a savings account with a 5% annual interest rate, you’ll have $105 after a year. In the second year, you’ll earn interest on $105 instead of just $100.
If you’re able to invest a larger amount of money, you’ll see it grow faster. For example, $500 with a 5% annual interest rate would earn $25 after a year. In the second year, you’ll earn interest on $525 instead of your initial $500. After a while, this adds up in a big way!
CDs are a safe option because the interest rate is guaranteed
MSGCU CDs offer a guaranteed return on your investment because the rate is locked in when you open the CD. We also offer a one-time bump in the interest rate for CDs with terms of three years or more. That way, if rates rise during the CD term, you can take advantage of higher earnings.
Don’t have a huge stash of cash to set aside for your CD? No problem. MSGCU members 17 and under can open our Youth Flex CD that offers a low minimum balance of $100. This CD builds your savings with 4.00% APY** over a 12-month term and you can make unlimited deposits up to the max balance of $15,000. Plus, you can make two penalty-free withdrawals per term.§ We also offer the Grow-With-Me-CD that features a minimum balance of $250, terms from six months to two years, and unlimited deposits.
If you’re looking for more options, we provide market-leading rates and terms to fit a variety of needs, including our New Money CD with a 15-month term at 4.25% APY.^
| Certificate of Deposit (Regular and IRA CDs) | ||
| Term | APY* | Interest Rate |
| Standard | ||
| 6 Months | 2.50% | 2.48% |
| 12 Months | 3.50% | 3.46% |
| 2 Years | 4.00% | 3.94% |
| 3 Years | 3.25% | 3.21% |
| 4 Years | 3.25% | 3.21% |
| 5 Years | 3.50% | 3.46% |
| Promotional | ||
| 15 Months - New Money^ | 4.25% | 4.18% |
| 9 Months | 4.05% | 3.99% |
*APY = Annual Percentage Yield. APY and rates rounded to the hundredth percentile. $500 Minimum Average Daily Balance Required. Certificate of Deposits will automatically renew at maturity. You have a grace period of ten (10) calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty. Promotional Certificates will automatically renew at maturity to a standard term Certificate offered at the time of maturity. ^APY = Annual Percentage Yield. The 15-month promotional CD is offered as of 7/1/2026 and is available for new money only. New money means funds that are not currently on deposit at MSGCU. This offer cannot be combined with current MSGCU deposit dollars, including rollovers from maturing MSGCU CDs. The minimum balance required to open the CD and earn the advertised APY is $500. Funds are considered new money if they are received by MSGCU through cash, check, or wire transfer and the CD is opened within five days of MSGCU receiving the funds. Funds from an IRA direct transfer or rollover from another institution are also considered new money if they are deposited into the IRA share and the CD is opened within five days. Funds withdrawn from MSGCU may not be returned and be considered New Money within 90 days of withdraw. A penalty may apply for early withdrawal. Businesses, municipalities, and MSGCU team members are not eligible for this offer. This offer is available in branches or when opening a new membership online only through 9/30/2026. At maturity, the CD is renewed to a 1-year term Certificate of Deposit. Terms and rates are subject to change at any time without notice. | ||
An ideal way to save for big goals
With a variety of rates and terms, opening a CD is an easy way to invest for your future goals, such as:
- Education expenses
- A first car or new vehicle
- Wedding costs
- A down payment on a home
- A dream vacation or splurge purchase
One of the easiest options to start investing
CDs are an easy way to grow your savings faster. While other investments – like stocks, bonds, or mutual funds – are more volatile and can require active monitoring, the rate on CDs is guaranteed, so they’re risk free. Plus, your MSGCU accounts, including CDs, are federally insured up to $250,000 per share owner, making your money even safer.
For more ways to learn the ABCs of CDs, check out the video below.
A financial champion in your corner
Opening a CD with MSGCU also gives you the advantage of personalized guidance. Our team is here to support you and will help you create the best plan to reach your savings goals. If you or your parents have questions, stop in your local branch office, chat or video bank online, or make an appointment at any of our convenient 24 branch offices to talk with our team.
**APY = Annual Percentage Yield. APY and rate rounded to the hundredth percentile. $100 Minimum Balance Required. Maximum balance is $15,000. Two penalty-free withdrawals per term may be made via an MSGCU team member thru a branch, call, or video; additional withdrawals will incur a penalty. APY is accurate as of December 1, 2025. No parental account required. Certificate of Deposits will automatically transfer to Membership Share 01 at maturity. One CD per membership. §CD must maintain the required minimum $100 balance. Withdrawals must be made via an MSGCU team member thru a branch, call, or video; additional withdrawals will incur a penalty.
Category: Finance
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