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Climbing the money ladder

Whether you’re saving for a college education or down payment on a house, a certificate account is a great way to save for your future financial goals and dreams. You can choose a term ranging from three months to five years. The longer the term, the more you can typically earn. By building a ladder of certificate accounts, your certificates will mature at different times. This guarantees access to your money at different intervals.  That way, if you need cash you won't pay an early withdrawal penalty.

Here’s how to start your certificate ladder:

Step 1: Open a certificate at a term that works for you. For example, start with $500 for one year.

Step 2: When your certificate matures, deposit the original $500 into a longer-term certificate such as 24 months. At the same time, fund a new $500 certificate for one year using the interest earned from the first certificate as a foundation.

Step 3: Continue to deposit and re-deposit your funds into one-year certificate accounts until you have built a ladder of six or more certificates. The more you invest, the higher your ladder will climb.

Start building your certificate ladder today

Open a certificate account by visiting a branch, log in to Digital Banking or call 301.779.8500. View today's rates.

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