Why CCB Certificates of Deposit (CDs) Are Smart for Your Business
At CCB, we know that businesses, both big and small, need a reliable way to grow their savings. That’s where a Certificate of Deposit (CD) comes in. A CD lets you set aside money for a certain amount of time, earning higher interest rates than a regular savings account. Plus, with CCB, your deposits are FDIC-insured up to the maximum allowed by law, providing you with peace of mind knowing that your hard-earned money is protected against unforeseen circumstances. Let’s break down how CDs benefit both large and small businesses.
What is a CD?
A Certificate of Deposit (CD) is a special kind of savings tool. You deposit money for a set period (like 6 months, 1 year, or 18 months), and in return, CCB pays you interest. The longer you keep the money in the CD, the more interest you earn. However, you can’t withdraw the money during that time without a penalty. CDs are a safe and predictable way to grow your business’s savings.
Benefits for Large Businesses
1. Maximize Returns on Extra Cash
Large businesses often have extra cash that isn’t immediately needed. Instead of leaving that money in a regular account, they can invest it in a CD to earn more interest while keeping it safe. CCB’s CDs offer fixed interest rates, meaning large businesses know exactly how much they will earn, without worrying about market fluctuations.
2. Diversified Savings
For large businesses, CDs are part of a diversified savings strategy. They can spread their funds across different savings tools, including CDs, to minimize risk and ensure steady growth. This helps make the most of their capital while maintaining a secure option for savings.
3. Flexible Terms
CCB offers CDs with various terms, so large businesses can select options that align with their financial needs. Whether they need the money in a year or want to set it aside for several years, CCB provides flexible CD terms to fit those goals
Benefits for Small Businesses
1. Guaranteed, Risk-Free Growth
Small businesses benefit from CDs by getting a guaranteed return on their investment. CCB offers fixed interest rates, so small businesses can plan ahead knowing exactly how much money they’ll make by the end of the CD term. That’s more money in the long run for you to support your small business dreams!
2. Saving for Short-Term Goals
For small businesses planning for upcoming expenses, like equipment purchases or tax payments, a short-term CD (6 to 12 months) is an ideal way to save. It allows them to earn higher interest than a regular savings account while keeping funds safe.
3. Emergency Fund Protection
A CD can also serve as an emergency savings tool for small businesses. By setting aside funds in a CD, they ensure their money is protected for the future, and with CCB’s FDIC insurance, their deposit is secure up to federal limits
Why CCB?
At CCB, we live by our motto, “Where Community Counts.” As a locally-owned and operated community bank, we take pride in offering personalized service that meets the specific needs of your business.
AND, when you invest in a CD with us, you’re not just growing your savings—you’re supporting the local community. In addition to supporting our customers, we’re continually giving back in our communities through donations, volunteer hours, and support to help local organizations thrive!
Ready to Grow Your Business?
Whether you’re a large business looking to maximize your cash reserves or a small business planning for future expenses, CCB’s CDs provide a safe, high-interest option for your business to earn more while you save. Contact ustoday or stop by a branch to learn more about how we can help your business succeed.