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CDs & IRAs

Personal Certificates of Deposit (CDs)

Our Certificates of Deposit offer great flexibility with competitive interest rates on a variety of terms to match your savings needs. Interest can be compounded, paid by check, or deposited into your CNB checking or savings account.

CDs are insured by the FDIC+ and are virtually risk-free. They have a specific fixed term (often three months, six months, or one to five years) and an interest rate, which is typically higher than a savings account. It is intended that the Certificate of Deposit be held until maturity++, at which time the money may be rolled over, withdrawn or renewed for a different term.

Contact your banker to get current rates.

+FDIC (Federal Deposit Insurance Corporation) deposit insurance covers the depositors of a failed FDIC-insured depository institution dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default up to $250,000.

++Early withdrawal penalties may apply.

Individual Retirement Account (IRAs)

IRAs allow clients to invest a specific dollar amount each year to save for retirement. We offer both Traditional & Roth IRAs. One of the most significant differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential at time of retirement.

Traditional IRA

  • No minimum contribution requirement
  • Contributions are tax-deductible (consult your tax advisor)*
  • Earnings are tax-deferred until withdrawal*
  • Withdrawals can begin at age 59 1/2
  • Early withdrawals subject to penalty*
  • Mandatory withdrawals at age 73

Roth IRA

  • Income limits to be eligible to open
  • Contributions are NOT tax-deductible
  • Earnings are tax-free at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59 1/2
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

*Subject to some conditions.
**Exceptions may apply.