Savings

Saving money is important.

Whatever you are saving for, there’s a way to do it at Community Bank & Trust.  Come talk to us about your goals and dreams, and we’ll get you started.  You can even have money automatically transferred from your checking account or deposited from another source with direct deposit.  Saving money is important, and it can be simple.

Community Savings Account:  Earn a competitive rate of interest and watch your savings grow.  Get started with $25 or more and make unlimited withdrawals in person; $5 each for other withdrawals over 6 per month.  There is no monthly service charge when the minimum daily balance is $250 or more.

Community Cash Account:
  For insured savings with liquidity, this account pays a tiered rate of interest that goes up as the balance goes up.  With a minimum daily balance of $2,500, there is no monthly service charge.  Unlimited withdrawals may be made in person; $5 each for other withdrawals over 6 per month.  If the daily balance drops below $2,500, the monthly service charge is only $10.

Christmas Club Account:  This is an ideal way to save for holiday shopping.  Put back a little each month and, in November, we’ll send you a check for the balance plus any interest earned.  Get started with as little as $25 today.

Kids Community Club Savings:
 Teaching kids the importance of saving and about managing money is easy and fun with this special account just for them.  Find out about the features of our Kids Community Club Savings Account, and when you have some time, visit Kids Corner with Dollar The Dragon to learn about banking, what checks are for, and more…

Certificates of Deposit: Choose the amount and the term and earn competitive, fixed rates.  The minimum deposit is only $500 for a certificate of one year or more, $1,000 for less than a year.  Federal regulations require a penalty for early withdrawal.

Retirement Accounts: Certificates of deposit may also be used for IRAs as a safe, predictable way to save for retirement. You may choose either a “traditional” IRA with tax-deferred earnings, or a Roth IRA for tax-free earnings, depending on your situation. Special *SEP *accounts are available for the self-employed.

If you have opened an IRA elsewhere, it’s easy to move it to Community Bank & Trust as a “rollover” or by direct transfer.

You should always consult your tax advisor about your retirement savings options and any tax implications before opening or making a change in a retirement account.

Deposit accounts at Community Bank & Trust are insured by the FDIC; interest rates are subject to change.