A certificate of deposit (or CD) is a short- or medium-term, interest-bearing, NCUA-insured debt instrument offered by credit unions.

• A CD typically offers a higher rate of interest than a regular savings or checking account.
• CDs can't lose their value during the term and are insured up to $250,000.

Investors searching for low-risk investments that can easily be converted into cash should consider a CD. Note that an early withdrawal penalty could apply.

NCUA: National Credit Union Administration.

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