Monthly (Standard for most CDs)
Daily
Quarterly
Annually
At Maturity (Simple Interest)
Initial Deposit:$0.00
Total Interest Earned:$0.00
Annual Percentage Yield (APY) Est:0.00%
Total Value at Maturity:$0.00
Understanding Your EECU Certificate of Deposit (CD) Earnings
The Educational Employees Credit Union (EECU) offers competitive rates on Share Certificates (CDs), providing a secure way to grow your savings over a fixed period. Unlike standard savings accounts where rates can fluctuate, a CD locks in your dividend rate for the duration of the term, offering predictable returns.
How to Use This Calculator
This calculator is designed to help members and prospective members of EECU estimate the future value of their investments based on current market rates. To get an accurate projection:
Deposit Amount: Enter the total amount of money you plan to invest in the CD. EECU typically requires a minimum opening deposit (e.g., $1,000).
Annual Rate (%): Input the advertised interest rate or APY. Check the official EECU website for the most current rates for "Regular", "Jumbo", or promotional terms.
Term Length: Specify how long you will keep the money in the account. Common terms range from 3 months to 60 months (5 years).
Compounding Frequency: Most credit union share certificates compound dividends monthly. Select "Monthly" for the most accurate estimation unless the specific product terms state otherwise.
The Mathematics of CD Growth
Certificates of Deposit grow through the power of compound interest. This means you earn dividends not just on your initial principal, but also on the dividends that have already been credited to your account.
For standard monthly compounding, the formula used is:
A = P (1 + r/n)nt
A: The future value of the CD at maturity.
P: The principal deposit amount.
r: The annual interest rate (in decimal form).
n: The number of times dividends are compounded per year (e.g., 12 for monthly).
t: The time the money is invested for, in years.
Strategies for Maximizing Returns
When investing in EECU CDs, consider the following strategies to optimize your financial growth:
CD Laddering: Instead of putting all your funds into a single 5-year CD, split the money into terms of 1, 2, 3, 4, and 5 years. As each CD matures, reinvest it into a new 5-year term. This provides liquidity every year while capturing higher long-term rates.
Check for "Jumbo" Rates: If you have a larger sum to invest (usually over $100,000), you may qualify for Jumbo CD rates which are often higher than standard rates.
Promotional Terms: Occasionally, EECU may offer "Special" terms (e.g., 13-month or 25-month CDs) with enhanced rates that exceed standard term offerings.
Disclaimer: This calculator is for educational purposes only. It estimates earnings based on the inputs provided. Actual dividends paid by EECU or any financial institution may vary based on specific account terms, day-count conventions (360 vs 365 days), and rounding policies. Consult with a financial representative for exact figures.
function calculateCDReturns() {
// 1. Get Inputs
var deposit = parseFloat(document.getElementById('depositAmount').value);
var rate = parseFloat(document.getElementById('interestRate').value);
var termInput = parseFloat(document.getElementById('termLength').value);
var termType = document.getElementById('termType').value;
var frequency = parseFloat(document.getElementById('compoundingFreq').value);
// 2. Validation
if (isNaN(deposit) || deposit < 0) {
alert("Please enter a valid deposit amount.");
return;
}
if (isNaN(rate) || rate < 0) {
alert("Please enter a valid interest rate.");
return;
}
if (isNaN(termInput) || termInput <= 0) {
alert("Please enter a valid term length.");
return;
}
// 3. Logic & Calculation
// Convert term to years for the formula
var timeInYears = 0;
if (termType === 'months') {
timeInYears = termInput / 12;
} else {
timeInYears = termInput;
}
var finalAmount = 0;
var totalInterest = 0;
var effectiveAPY = 0;
// Rate to decimal
var r = rate / 100;
if (frequency === 0) {
// Simple Interest (At Maturity)
// Formula: P * (1 + (r * t))
finalAmount = deposit * (1 + (r * timeInYears));
effectiveAPY = rate; // APY equals rate in simple interest usually, though technically APY requires compounding
} else {
// Compound Interest
// Formula: A = P * (1 + r/n)^(n*t)
var base = 1 + (r / frequency);
var exponent = frequency * timeInYears;
finalAmount = deposit * Math.pow(base, exponent);
// Calculate effective APY based on compounding: APY = (1 + r/n)^n – 1
effectiveAPY = (Math.pow((1 + (r / frequency)), frequency) – 1) * 100;
}
totalInterest = finalAmount – deposit;
// 4. Update UI
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
document.getElementById('displayPrincipal').innerHTML = formatter.format(deposit);
document.getElementById('displayInterest').innerHTML = formatter.format(totalInterest);
document.getElementById('displayTotal').innerHTML = formatter.format(finalAmount);
document.getElementById('displayAPY').innerHTML = effectiveAPY.toFixed(2) + "%";
// Show results
document.getElementById('results').style.display = 'block';
}