If the stock market's ups and downs have you thinking about the lesson from "The Tortoise and the Hare" – slow and steady wins the race – you might want to consider putting money into certificates of deposit (CDs). A Chaco Credit Union CD offers a competitive interest rate that is guaranteed for the term of your CD. That can give you peace of mind. Plus, your balance is federally insured up to $100,000 ($250,000
if it's in an individual retirement account).

Your board of directors have chosen to provide an additional $250,000 of savings coverage to qualifying accounts through ESI, a licensed property and casualty insurance company. This supplemental share insurance coverage from ESI has been available to credit unions since 1993.

CDs are available in a variety of terms. It's important to choose a maturity date in line with your goals because there may be a penalty for early withdrawal.

Enjoy the Benefits of Laddering
CD interest rates have a history of changing, and if their rise and fall gives you pause about when to put money into a CD, or what term to choose, consider laddering a series of CDs. An advantage of this strategy is that it gives you access to a portion of your money, penalty-free, at regular intervals.

To create a CD ladder, open a series of CDs with staggered maturity dates, such as 6, 12, 18 and 24 months. When each CD matures, roll it over into a CD with the longest term in your ladder. You may benefit from the higher interest rate that longer term CDs often pay, while enjoying access to a portion of your money regularly.

A CD ladder helps you take advantage of the best interest rates when rates are changing. If rates are falling, a portion of your money is still earning the higher rates that were available earlier. And if they're rising, a portion of your money is available to reinvest at the higher rates at regular intervals.

Talk to a service representative about opening a CD or building a CD ladder today, and rest easy tonight.