Customers have recently reported fraudulent phone calls pretending to be Traditions Bank, in which customers are being asked to provide card numbers and other personal information. As a reminder, neither Traditions Bank nor any other financial institution will ask for your complete card information when verifying fraud on your Traditions Bank account.
Why a Business may want to invest in CDs
Certificates of Deposit can provide a simple way for small and medium-sized businesses to invest their earnings. They can also be a method to strengthen an organization’s overall financial portfolio with collateral which can help with future lending opportunities.
CDs are easy to set up, have a low minimum startup amount, and are relatively low-risk with fixed, predictable returns. While interest earned may be less than other investment vehicles, CDs usually yield more than business savings or money markets. CDs are considered “time deposits,” which means the funds are not accessible until the agreed-upon term is over, so it’s important to plan out the goals of your business and choose the terms that work best with your cash flow needs.
Business Certificates of Deposit
At Traditions Bank, we offer Certificates of Deposit to fit your business needs with terms starting at 7 days up to 5 years and a minimum amount of $500.
Note: Special Rate CDs may have different terms and conditions. Please contact one of our branches for more details.