What are the differences between savings accounts vs. certificates?

Here are a few of the ways savings accounts and certificates are different from one and other.

Certificates of Deposit are a type of federally insured savings account that has a fixed interest rate and fixed date of withdrawal, known as the maturity date. We do have penalties for early withdrawals. You cannot add funds once the CD is opened. CDs typically don't have monthly fees. 

Savings Accounts are a bank account that earns interest. Our savings accounts are transactional. That means you can have a debit card with a savings account at HRCCU. Check out our variety of savings accounts on our website: https://www.hrccu.org/banking/savings-accounts/

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