Welcome to Certificates of Deposit & IRAs

Certificates of Deposit & IRAs

Savings with Locked-In Rates

A time deposit, commonly referred to as a certificate of deposit, or CD, offers a fixed rate of interest over a specific time, and yields a higher rate of interest than most savings accounts.

  • Terms range from seven days to 60 months. Early withdrawal penalties may apply.
  • Minimum deposit to open is $2,500. Additional deposits are not allowed.
  • For terms of one year or greater, interest is credited and compounded quarterly. For terms of less than one year, interest is credited and compounded at maturity.
  • Interest can be paid back to your short-term CD, transferred to your CNB checking account, or paid by check quarterly.
  • Your savings are FDIC insured up to $250,000 per depositor, per insured bank, for each ownership category.