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Certificates of Deposit (CDs)​

couple applying for CDs
CDs are a safe and affordable component of an investment strategy with a low minimum investment requirement, no monthly fees and interest earnings that are compounded and automatically credited monthly or at maturity to your account. These FDIC-insured deposits are guaranteed safe to maturity by the full faith and credit of the United States government to $250,000 per depositor for each account ownership category. CDs with longer maturities are rewarded with higher interest rates. American Federal offers the convenience and choice of automatically reinvesting the earned interest or depositing it into a checking or savings account. American Federal CDs are automatically renewable so there is no worry about funds sitting idle. Add liquidity by laddering your CDs to stagger the maturity dates and always have access to some of your money. CD laddering spreads your money across a range of CDs with different terms and fixed interest rates. Invest in a secure CD. Longer terms and greater balances earn higher interest rates. The American Federal Step Up CD offers an opportunity to request a better rate one time during the initial term of the CD, removing any worry you will miss out on interest earnings, if rates go up during the term of the CD.
  • Fixed interest rate guaranteed to maturity
  • Longer terms and greater balances earn higher interest rates
  • Deposits FDIC insured up to the maximum established by the FDIC per depositor and ownership category
  • Maturities ranging from 91 days to 60 months
  • No monthly or annual service fees
  • $1,000 minimum deposit to open CD
  • Daily minimum balance of $1,000 required to earn interest
  • Interest compounded and credited either monthly or at maturity*
  • Choose to have interest credited back to your CD or into a savings or checking account
  • Automatically renewable
  • Penalty may apply for withdrawals before maturity
*Interest at maturity is available for CDs with terms less than one year. Interest monthly is available for CDs with terms greater than 91 days.
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Retirement CDs

Our retirement CDs are perfect for individuals who want a secure way to save for retirement.

 
  • Longer terms and greater balances earn higher interest rates
  • Fixed interest rate guaranteed to maturity
  • Deposits FDIC insured up to the maximum established by the FDIC per depositor and ownership category*
  • Maturities ranging from 182 days to 60 months
  • No monthly or annual service fees
  • Interest compounded and credited monthly
  • $25 minimum deposit to open CD with term of 18 months or less
  • $1,000 minimum deposit to open CD with term greater than 18 months
  • To earn interest, no minimum balance requirement with terms 18 months or less; $1,000 minimum balance requirement with terms greater than 18 months
  • Add to account balance at any time if CD term is 18 months or less
  • Automatically renewable
* FDIC protection only applies to bank deposits in retirement accounts. Investments such as stocks, bonds, mutual funds and annuities sitting in retirement accounts are not covered by FDIC insurance.
Roth IRAs

Roth IRAs allow greater flexibility in retirement planning for qualifying individuals and couples. Roth IRA account holders pay no tax on withdrawals as long as the assets have been in the account for at least five years, the account holder is at least 59 1/2 years of age, and if funds are used for certain qualifying events. You can also continue to make contributions to a Roth IRA after turning 70 1/2 years of age (traditional IRAs prohibit contributions after that time) and you don’t have to take withdrawals at this age.

Direct Rollover IRAs

Direct Rollover IRAs allow customers who have already accumulated funds in a retirement plan to move them into an individual plan within 60 days of receiving the money. American Federal funds Direct Rollover IRAs with CDs and does not charge a fee to establish the account. Talk to an American Federal Banker about the best option that fits your financial needs.

Health Savings Account (HSA) CDs

Our Health Savings CDs are for individual customers who want to earn higher interest on their HSA funds and do not need immediate access to their money. 

  • Deposits FDIC insured up to the maximum established by the FDIC per depositor and ownership category
  • Terms are 24 and 60 months
  • No monthly or annual service fees
  • Interest compounded and credited monthly
  • $1,000 minimum deposit to open CD
  • Daily minimum balance of $1,000 required to earn interest
  • Automatically renewable
  • May make withdrawals of principal before maturity; however, penalty for early withdrawal may apply
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