When you have money sitting in a traditional savings account, keeping it safe is important. But there is another question worth asking: Could that money be earning more?
For savers throughout Northwest Indiana and the South Chicago suburbs, a Certificate of Deposit, commonly called a CD, can offer a simple way to put money to work without taking on the uncertainty that comes with investing in the market.
At Tech Credit Union, members have access to several Certificate of Deposit options, including limited time CD rate specials designed for people who want to earn more from money they have saved.
Why Consider a CD Right Now?
A CD can make sense when you have savings that you do not expect to need for everyday expenses.
Instead of leaving those funds in an account where they may earn a lower return, you agree to keep the money deposited for a specific period of time. In return, a CD can provide a competitive Annual Percentage Yield, or APY.
This can make CDs especially useful when saving for goals such as:
- A future home purchase
- A vehicle
- Home improvements
- College expenses
- A major vacation
- Retirement
- Building long term savings
CDs can also appeal to savers who simply want to earn more without exposing their money to stock market fluctuations.
Short Term CDs Can Give Your Savings More Flexibility
One misconception about Certificates of Deposit is that your money needs to be locked away for several years.
That is not always the case.
Tech Credit Union currently offers special CD terms of 7 months, 11 months and 15 months, giving savers several relatively short term options depending on when they may need their money again.
As of the date of this article written on August 27th 2026. The Current special rates include:
7 Month CD: 4.00% APY
11 Month CD: 4.25% APY
15 Month CD: 4.50% APY
With multiple terms available, you can choose an option that better matches your financial timeline rather than committing your savings to a single long term strategy.
Explore Tech Credit Union CD Rates and Options
What Could a Higher CD Rate Mean for Your Money?
Even a difference of a percentage point can become meaningful when you are talking about larger savings balances.
That is why it can be worthwhile to periodically compare what your current financial institution is paying with other available savings options.
If you have money sitting in a lower paying account at another financial institution, moving some of those funds into a higher yielding CD may allow you to earn more without changing the amount you are already saving.
Tech Credit Union's current CD Rate Special requires a minimum of $1,000 in new money, giving members an opportunity to bring deposits from another financial institution and take advantage of the promotional rates.
Not Every CD Has to Work the Same Way
Choosing a CD is about more than finding the highest advertised APY. The right certificate should also fit what you want your money to accomplish.
Tech Credit Union offers several types of Certificates of Deposit.
Regular CDs
Regular CDs provide predictable earnings over a selected term. Tech Credit Union Regular CDs have a $1,000 minimum opening deposit, with interest earnings deposited monthly into a Membership Savings or Checking account.
Compound CDs
For members focused on growing their savings, Compound CDs allow dividends to compound, resulting in a higher APY than comparable Regular CDs. Principal and earned dividends are transferred to your Membership Savings or Checking account at maturity.
Premium CDs
Some Tech Credit Union members may qualify for an additional rate bonus through a Premium CD based on their relationship with the credit union or eligibility through certain membership benefits.
Jumbo CDs
For larger deposit balances, Tech Credit Union also offers Jumbo CDs beginning at $100,000. These certificates offer higher APYs than comparable regular CDs.
48 Month Bump CD
A longer term CD can create a different concern: What happens if rates increase after you open it?
Tech Credit Union's 48 Month Bump CD includes an option allowing one rate adjustment to the current applicable rate during the original term. This gives members an additional level of flexibility when committing funds for a longer period.
Compare Tech Credit Union Certificate of Deposit Options
What About Building a CD Ladder?
You do not necessarily have to put all of your savings into one CD.
A strategy known as CD laddering involves dividing your money among several Certificates of Deposit with different maturity dates.
For example, instead of placing your entire CD savings into one certificate, you could divide the money among CDs with different terms. As each certificate matures, you have another opportunity to access the money or place it into a new CD.
The goal is to balance earning potential with more frequent access to portions of your savings.
A CD ladder will not be the right strategy for everyone, but it is one reason having multiple CD terms available can be valuable.
CD vs. Savings Account: Which Is Better?
There is no single answer because the two accounts serve different purposes.
A savings account generally makes more sense for money you may need quickly, particularly emergency savings and funds used for near term expenses.
A CD can make more sense for money that you know you can leave untouched for a defined period in exchange for the opportunity to earn a higher yield.
In many cases, the answer is not choosing one or the other.
You can maintain accessible savings for emergencies while using CDs for funds that you want to put to work toward longer term goals.
Looking for CD Rates in Northwest Indiana or the South Chicago Suburbs?
The financial institution you choose matters just as much as the savings product.
Tech Credit Union has served members since 1936 and today provides financial services to individuals and families throughout Northwest Indiana and the South Chicago suburbs.
As a member owned credit union, Tech offers savings products designed to help members make more of the money they have worked hard to build.
Whether you are comparing CD rates in Northwest Indiana, looking for a credit union CD in Indiana or Illinois, or simply wondering whether your current savings could be earning more, it may be worth comparing your options.
Put Your Savings to Work
You worked to build your savings. Now consider whether your savings could be working harder for you.
Explore Tech Credit Union's current Certificate of Deposit rates, compare available terms and find an option that fits your financial goals.
View Tech Credit Union Certificate of Deposit Options
Current Tech Credit Union members can also open eligible deposit accounts through Online Banking or the Tech Credit Union Mobile Banking app.
Learn More About Opening an Account
Not a member yet? Learn more about becoming a Tech Credit Union member and discover the benefits of member owned banking.
Disclosure: APY = Annual Percentage Yield. Current promotional CD rates require a minimum $1,000 in new money to open. Transfers between Tech Credit Union accounts do not qualify. A penalty is imposed for early withdrawal. Principal and interest transfer to Membership Savings at the end of the promotional term. Rates, terms and offers are subject to change and promotional offers may end without notice. Visit TechCU.org for current rates, terms and complete account details. Federally insured by NCUA.
