In the United States, people who want to start a savings have many choices. Banks and credit unions are traditional places to open an account. Savings are protected up to a limit if a federally guaranteed bank or credit union ever fails. Banks and other financial organizations pay interest on savings accounts, but the interest rates are low. Certificates of deposit are another way to save. They pay higher interest rates. With a certificate of deposit, a person agrees not to withdraw an amount of money for a period of time. The term could be three months, or it could be several years. Longer terms, and larger amounts, pay higher interest. Another way to save is through a money market fund. They pay higher interest than savings accounts. The money is usually placed in short-term government securities. Money market funds, however, may not be federally guaranteed like other kinds of savings.