Savings

Investing in your future is a decision you can feel good about. From financing your child's education to planning for early retirement, it's an opportunity you can't afford to ignore. It's never too late to start saving today to have an even greater tomorrow.

Regular Savings

Features

  • FREE Online Banking.
  • FREE ATM Card.
  • FREE Quarterly Statements.
  • FREE telephone transfers from account to account.
  • NO monthly service charge.
  • Unlimited withdrawals in person.

Details

  • $50 minimum to open account.
  • Interest is compounded quarterly and paid quarterly.
  • The interest rate and annual percentage yield (APY) may change on these accounts quarterly.

View CFB Pricing Schedule

 

Money Market

Features

  • FREE Online Banking.
  • FREE ATM Card.
  • FREE Monthly Statements.
  • FREE telephone transfers from account to account.
  • NO monthly service charge.
  • Unlimited withdrawals in person.

Details

  • $50 minimum to open account.
  • Interest is compounded monthly and paid monthly.
  • No more than six pre-authorized withdrawals per month.
  • The interest rate and annual percentage yield (APY) may change on these accounts monthly.
  • Minimum Balance to Earn Annual Percentage Yield (APY)
    • Tier 1: $0.01 - $2,499.99
    • Tier 2: $2,500.00 - $9,999.99
    • Tier 3: $10,000.00 - $24,999.99
    • Tier 4: $25,000.00+

View CFB Pricing Schedule

 

Health Savings Account

Features

  • FREE Monthly Statements.
  • $50 minimum to open account.

View CFB Pricing Schedule

Details

  • Interest is compounded quarterly and paid quarterly.
  • No monthly service charge.
  • The interest rate and annual percentage yield (APY) may change on these accounts at any time.
  • Customer must be covered under a High Deductible Health Insurance Plan.
  • Money is used for qualified medical expenses as allowed by specified regulations.

 

Certificates Of Deposit (CD'S)

We offer CDs at various rates and terms to help you with your investment needs. Please contact us for current rates and terms.

  • CDs are fixed rate accounts. The interest rate and annual percentage yield will not change for the term of the CD.
  • Interest is compounded quarterly and credited quarterly.
  • The Annual Percentage Yield (APY) assumes that interest will remain on deposit.
  • CDs automatically renew. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
  • We may impose a penalty if you withdraw funds other than interest before the maturity date.
  • If a withdrawal occurs, earnings will be reduced.
  • $500 minimum to open account. Additional deposits are not permitted.

View CFB Pricing Schedule

Individual Retirement Accounts (IRA'S)

IRAs are accounts that allow individuals options on saving for retirement. Depending on your age and employment, you can have either a Traditional or Roth IRA.

Both IRA Accounts include:

  • $50 minimum deposit to open account.
  • $50 minimum balance to earn APY.
  • IRAs automatically renew.
  • In certain circumstances, such as required distributions, an IRA penalty may be waived.
  • We offer 18-Month Fixed or Variable rate IRAs.

The interest rate and annual percentage yield (APY) may change on the variable rate IRA after the account is opened. We may change the rate on these accounts at our discretion at any time.

Traditional IRAs

  • Contributions can be tax deductible - see your tax advisor for additional information.
  • Interest is tax deferred, meaning you don't need to report it unless the funds are taken out prematurely.
  • Account holders cannot withdraw funds before age 59 1/2 without a 10% penalty imposed by the IRS - see your tax advisor for additional information.
  • Withdrawal amounts are subject to income tax, regardless of age.
  • Individuals with a Traditional IRA cannot make contributions over the age of 70 1/2.
  • Individuals with a Traditional IRA are required to take annual distributions upon reaching the age of 70 1/2. The required minimum distribution depends on the account holder's Age.

Roth IRAs

  • Contributions to a Roth IRA are NOT tax deductible.
  • All interest earned on a Roth IRA is Tax-deferred.
  • Depending on the circumstances account holders cannot withdraw funds before age 59 1/2 without a 10% penalty by the IRS - see your tax advisor for additional information regarding the 5-Year Tax Rule, contributions and distributions.
  • Individuals with Roth IRA can continue to contribute to their ROTH IRA even after age 70 1/2.
  • Individuals with Roth IRA are NOT required to take minimum distributions at age 70 1/2.

View CFB Pricing Schedule

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