CDs vs. Money Markets

Interested in earning? You’re in the right place! Community Choice offers a variety of products that can help you grow your money.

Whether you’re at the start of your savings journey or you’re a seasoned pro, it’s important to understand your options so you can choose the product that’s best aligned with your financial goals.

Let’s break down two of our most popular investment options: CDs and Money Markets.

What’s a CD?

Back in the old days, we used to have these shiny circles called compact discs. You could even—well, we can get into those CDs another time. The CD you’re here to learn about is a Certificate of Deposit (CD).

A CD is a specified amount of money deposited for a pre-determined length of time. It earns a higher annual percentage yield than a regular savings account, and once it’s there, you don’t have to worry about it.

CDs are an UNdeniably great option for people looking to lock in a rate and earn in a more predictable way. You can technically access this money if absolutely necessary, however, penalties may be imposed for early withdrawal.

What’s a Money Market?

Back in the old days, this little piggy would go to the market. Now, he’s a hot shot investor. How?!

Money Market Accounts—they’re one of the most popular investment choices. You’ll earn more than a traditional savings account, and, UNlike CDs, you can make periodic deposits and withdrawals without being penalized.

Interest rates typically aren’t as high as they can be for CDs. These accounts are also more flexible, making this a more suitable option for short-term investors and little piggies alike.

Ready to Grow Your Money?

Heck yeah. Click here for a CD, here for a Money Market Account or give us a call at (515) 334-8100 if you’d like to learn more.