Savings Account
This account is a great choice for customers beginning to save or for those needing a basic savings account.

• No monthly service charge when you maintain a minimum daily balance of $50
• Monthly service charge of $1 if the daily balance drops below $50 during the month
• Limited to two teller assisted withdrawals per month; additional withdrawals will be $1 each.   (ATM withdrawals excluded)
• Descriptive quarterly statement of activity on your account
• Transfers over the Internet (online), by telephone or that are preauthorized are limited to no more than six per month  

Monthly charges will be waived for this account for anyone 18 and younger.

Certificate of Deposit
CDs are investment options that offer a wide range of terms and earn competitive interest rates that are guaranteed for the term. 

• A variety of terms available to meet your investment needs
• Interest paid monthly, quarterly or semi-annually depending on the deposit amount
• Interest can be added back to the CD, deposited to a CFB checking or savings or paid by check

Subject to early withdrawal penalties

Individual Retirement Account (IRA)
We have three IRA options to meet your needs:

• Traditional IRA - an account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made. You must be under age 70½ for the entire year and have earned income (or your spouse must have earned income) to be eligible for a traditional IRA.
• Roth IRA - a nondeductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, people who expect to be in a higher tax bracket when they retire may benefit more from this type of an account than from a traditional IRA. To be eligible to contribute to a Roth IRA, you must have earned income (or your spouse must have earned income) and your modified adjusted gross income (MAGI) cannot exceed certain limits.
• Coverdell Education Savings Account - is a nondeductible account that features tax-free withdrawals for a child's higher education expenses. Distributions from an Education IRA are penalty-free and federal income tax-free. There is no requirement that the contributor has earned income or be under age 70½. Contributions may be made on behalf of a child until the day before their 18th birthday.