IRAs & CDs

Your money, your future

We offer a variety of IRA options and CDs to fit your individual investment goals.

  • IRAs

    An IRA, or an Individual Retirement Account, is essentially a savings account with big tax breaks, which makes it an ideal way to save for your retirement. Unlike a 401(k) that is provided by your company, an IRA is an account that you open up on your own.

    IRAs are often more ideal than a regular savings or Money Market account because they enjoy the benefit of tax-deferred interest. This allows your retirement savings to grow faster in an IRA than they would in a similar taxable account because you can earn tax-deferred interest on your deposits in an IRA – right up to the time you begin withdrawing funds.

    Take charge of your own retirement plan

    Unlike most other pension plans, you control your IRA investments. In fact, your IRA is 100 percent yours from the day you open it.

    You may deposit any amount up to 100 percent of your compensation or $5,500.00; whichever is less. For individuals 50 years or older you may deposit up to $6,500.00. Compensation is the salary or wages you receive as an employee. If you are self-employed, compensation is your net income for personal services performed for the business. Passive income such as interest, dividends, and rental income is not considered compensation for purposes of funding an IRA.

    Types of IRAs

    To learn more about the various types of IRAs, click here, or contact a New Account Officer  to talk about your financial planning goals today.

  • CDs

    A CD is a type of account that cannot be withdrawn before a set date, but which offer higher rates of interest than just a regular savings account. Interest on our time deposits are compounded and credited monthly. Your minimum investment on a regular time deposit is $500.00, and we offer terms from 32 days to 5 years.

    In addition to regular time deposits, we also offer:

    Flex-Invest and College Savings Time Deposits

    Flex-Invest or College Savings Time Deposits are a convenient way to invest. Deposits to your flex-invest time deposit are as easy as deposits to a regular savings account, but receive higher CD interest rates. Flex-invest time deposits receive interest rates equivalent to a one- or two-year time deposit, depending on the term you choose.

    Other features:

    • Any Community Bank & Trust teller can make these deposits for you, or you may choose automatic transfers from checking or savings accounts directly into this Flex-Invest CD.
    • Open this account with $200 and you will earn our current one or two-year CD interest rate. This Certificate of Deposit could be used for many purposes; however, one of the most popular uses might be for your children's educational savings.
    • If you make additional deposits to this account, on each deposit, you will be paid the rate then in effect for that deposit throughout the remaining term. Interest begins to accrue on the business day you deposit. Interest is compounded monthly on the principal balance.
    • A minimum deposit of $200 is required to open this account. You may make additional deposits to this account. Multiple deposits made into the account after the initial deposit will mature on the same date as the original deposit. At maturity, all deposits will merge into one time deposit.
    • This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty. Any principal withdrawn before the maturity date will receive a penalty of six (6) months interest on the amount withdrawn. This early withdrawal penalty will be waived if payment is made directly to an accredited school of higher education.
    • The minimum required penalty is equal to seven (7) days' single interest or $50.00, whichever is higher.