Certificates of Deposit (CDs)
Our Certificates of Deposit (CDs) feature some of Liberty Bay’s highest savings rates. You choose from a variety of terms based on how long you are looking to commit the funds.*
Beyond our competitive rates and insurance, you'll also enjoy:
No maintenance fees
24/7 access through Online Banking or our Mobile App to check on your investment
Dividends that compound daily and are payable monthly
Get higher dividends.
Our CD options make your money work harder so you don’t have to do the heavy lifting.
Choose the date your CD will mature.
Your investment will be available on the date you want it.
Flexible terms.
Terms for our CDs range from 90 days to 5 years, so you can decide how long to let your funds mature.
Individual Retirement Account (IRA)
At Liberty Bay, we offer three unique investment options to help you plan for your future. Our investment accounts have no annual fees, and all contributions and earnings are insured in full!
Traditional IRAs*
A Traditional IRA can be a powerful tool in creating a balanced, long-term savings plan, offering tax-deferred earnings as well as tax-deductible contribution options.
You can invest up to $6,500 per year in a Traditional IRA account (or up to $7,500 if you are 50 or older).
You are eligible for penalty-free withdrawals from your Traditional IRA once you are age 59½ or older. Once you reach age 70½, you must take a required minimum distribution (RMD) every year.
Roth IRAs*
A Roth IRA offers more incentives to boost your retirement savings. Unlike Traditional IRAs, contributions to a Roth IRA are never tax-deductible. However, the money in your Roth IRA, including earnings, can be withdrawn tax-free.
You can invest up to $6,500 per year in a Roth IRA account (or up to $7,500 per year if you are 50 or older).
You are eligible for tax-free earnings withdrawals from your Roth IRA once you are age 59½ or older and the money has been in the account for at least 5 years. There are no mandatory withdrawals, and you can continue to invest in a Roth IRA no matter your age as long as you have earned income and meet the income limits.
Coverdell Education Savings Account (ESA)*
Coverdell ESAs help you pay for your child’s education expenses, such as tuition, fees, books, supplies, equipment, and in some cases, room and board and computers. Coverdell ESAs offer tax-free distributions and, unlike Section 529 plans, can be used for elementary and high school expenses at most public, private, and parochial schools.
Our investment accounts have no annual fees.
All contributions and earnings are insured in full.
Compare Accounts
| Certificates of Deposits | Traditional IRA Certificates | Roth IRA Certificates | Coverdell Education Savings | |
|---|---|---|---|---|
| Best if you're looking to | Earn high dividends for a specific term at a guaranteed, fixed rate. | You are saving for retirement with before-tax money, and don’t plan on making withdrawals until retirement, at age 59 ½. | You are saving for retirement with after-tax money, you need more flexibility for withdrawals, or you may work past age 70. | Save for education expenses while your deposits grow tax-free |
| Minimum to Open | $500 | $500 | $500 | $500 |
| Tax Advantages | None | You may be able to reduce your current income taxes now. You don't pay taxes until you make a withdrawal, typically when you are in a lower tax bracket. | All earnings grow tax-free, and you don’t pay taxes when you make a withdrawal, typically when you are in a lower tax bracket. | Contributions to this type of education savings account are not tax-deductible, but deposits grow tax-free until the money is used. |
| 100% Federally Insured | Yes | Yes | Yes | Yes |
Related topics you may be interested in:
Retirement & Investment Calculators
Make a more informed decision as you secure your financial future with our retirement and investment calculators.
Savings Accounts
Looking for a more flexible savings account option that will help you meet your savings goals while still providing accessibility to your funds?
Money Manager
Money Manager allows you to view all your finances, including external accounts, in a single, elegant interface. With all your accounts visible in a single interface, you’ll be able to track your net worth over time and recognize trends that affect it.
Life Insurance
It’s good to know that when the time comes, you’ll be prepared. At Liberty Bay, we offer policies with affordable rates to fit your budget.
Make your savings work as hard as you do when you become a member at Liberty Bay
*All dividend rates are subject to change, and dividends are compounded daily and paid monthly. Visit our deposit rates page to view available terms, APY, and minimum deposit requirements. Early withdrawals of principal are subject to a substantial penalty.