FAQ Category: Investments
What is a CD Ladder?
A CD (Certificate of Deposit) Ladder is an investment strategy that involves dividing a sum of money into multiple CDs with different maturity dates. The primary goal of this approach is to balance the benefits of earning higher interest rates on longer-term CDs while maintaining liquidity by having funds become available periodically. Here’s how it works: How a CD Ladder ...
Continue ReadingIs my money safe in a Money Market Savings Account?
Yes. Money in a People Driven Credit Union Money Market Savings Account is federally insured by the National Credit Union Administration, or NCUA, to at least $250,000 per member, per ownership category. How NCUA insurance helps protect you NCUA insurance protects eligible deposits at federally insured credit unions. Coverage limits apply by ownership category, so your total protection may vary ...
Continue ReadingWhat is a Money Market Savings Account?
A Money Market Savings Account is a type of savings account that can offer higher dividend rates than a regular savings account while still giving you access to your funds. It may be a good fit if you want to earn more on your savings without locking your money into a certificate. How it works at People Driven Credit Union ...
Continue ReadingWhat is an IRA Certificate of Deposit?
An IRA Certificate of Deposit is a retirement savings account that combines the tax advantages of an Individual Retirement Account with the fixed rate and set term of a Certificate of Deposit. It can be a good option if you want predictable growth and a more conservative way to save for the future. How it works With an IRA Certificate, ...
Continue ReadingIs there a limit to how many times I can withdraw/transfer out of my Money Market account?
No. There is no limit on withdrawals or transfers from People Driven Credit Union’s Money Market Plus Savings Account. How you can access your funds You can access money in your account in different ways, including transfers and check writing. The account is designed to give you more flexibility than a certificate while still helping you earn more than a ...
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