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Savings Accounts & Time Deposits

Passbook Savings

The traditional savings accounts with easy access to your funds.

Requirements:

  • Minimum Balance to Open - $50.00 unless the primary account owner is under the age of 18; then no minimum opening balance requirement
  • Customer uses a passbook to keep records of the account in.

Benefits:

  • Nine (9) withdrawals every three (3) months at no cost.
  • No minimum balance requirement.

Cost:

  • The fee for each additional withdrawal after the nine (9) allowed is $2.50 per withdrawal.

 

EFT (Electronic) Savings Account

(May Be Required)

  • Minimum Balance to Open  -  $50.00 unless the primary account owner is under the age of 18; then no minimum opening balance requirement.
  • You may have three (3) debits to the account during every monthly interest period.  The fee for each debit after three (3) is $2.50 per debit.
  • Additional fees may be assessed, including but not limited to: overdraft fees or return item (NSF)fees.  See the Fee Schedule.

 

Time Deposits (CDs)

When you invest in a certificate of deposit (CD), you invest your savings for a specific period of time and we guarantee your interest rate during this period. A CD is a great fit when you don't need immediate access to your funds and want a predictable rate of return. CDs are also FDIC-insured, providing you with added security.

  • Minimum Opening Deposit Amounts vary depending upon term
  • A penalty will or may be imposed for early withdrawal
  • Compounding and frequency of payment of interest depends on the amount of deposit

Enjoy a guaranteed rate of interest on your funds with a Time Deposit. Visit your nearest Community Bank office to learn more.

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