Savings Accounts

A savings account is an easy way to save for your future!

Regular Savings

A simple regular savings account features no minimum balance requirements and no monthly fees!

*The interest rate and annual percentage yield may change at any time and will be determined at our discretion. Interest begins to accrue no later than the business day when the Bank receives credit for the deposit, usually the first business day after the banking day on which the deposit is received. Interest will be compounded quarterly and will be credited to the account quarterly. If the account is closed before interest is credited you will receive interest accrued to date of closing.
**We use the daily balance method to calculate the interest on the account. This method applies a periodic rate to the collected daily balance in the account for each day. This periodic rate paid is based upon the collected balance in the account. You must maintain a minimum balance of $50.00 in the account each day to obtain the disclosed annual percentage yield.

Certificates of Deposit 

A longer term savings option that provides a safe and convenient way to assist in meeting your savings goals. We offer terms from 3 months to 60 months with a minimum deposit of $100.

Certificate Rates

D Maturity Terms

Interest Rate

Annual Percentage Yield

Minimum Opening Balance

Interest Paid

3 months*

0.15%

0.15%

$100.00

At maturity

6 months*

0.25%

0.25%

$100.00

At maturity

12 months*

0.35%

0.35%

$100.00

Semi-annually

18 months**

0.45%

0.45%

$100.00

Semi-annually

24 months**

0.55%

0.55%

$100.00

Semi-annually

36 months**

0.80%

0.80%

$100.00

Semi-annually

48 months**

1.05%

1.05%

$100.00

Semi-annually

60 months**

1.30%

1.30%

$100.00

Semi-annually

 * Early Withdrawal Penalty: One month interest
** Early Withdrawal penalty: Three months interest
There are certain circumstances, such as death or incompetence of an owner, where we may waive or reduce this penalty.

Annual Percentage Yield assumes interest will remain on deposit until maturity. Rates are subject to change. We may impose a penalty if you withdraw any portion of the principal before the maturity date. There are certain circumstances, such as death or incompetence of an owner, where we may waive or reduce this penalty. You may withdraw interest after it has been credited to your certificate without penalty.
Interest will be compounded and credited to your Three Month and Six Month Certificate at maturity. On all other Certificates, interest will be compounded and credited to your Certificate every six months. Interest begins to accrue no later than the business day when this bank receives credit for the deposit. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the Certificate principal each day.
You may not make deposits to this Certificate during a term. You may make withdrawals of principal from your Certificate subject to our approval and the early withdrawal penalties.
You must deposit at least $ 100.00 to open a Certificate.
Certificates will automatically renew at maturity for the same term as the original term beginning on the maturity date. The interest rate will be the same we offer on new Certificates on the maturity date which have the same term, minimum balance and other features as the original certificate. You may prevent renewal if we receive written notice from you or if you withdraw the funds at maturity or within 10-day grace period after maturity. You will have ten calendar days after maturity to withdraw the funds without penalty. We may also prevent renewal if we mail notice to you at least ten days prior to maturity. If either you or we prevent renewal, interest will not accrue after the final maturity.

Individual Retirement Accounts

It’s never too early to start planning for retirement. IRA’s can offer great tax benefits and help you build your nest egg for your retirement years. You may be able to choose from both Traditional or Roth IRAs. Please consult your tax advisor.

Traditional IRAs*

Roth IRAs*

*Consult your tax advisor for advice and information concerning your particular situation and your eligibility for IRAs. Community Development Bank representatives may not give legal or tax advice.

IRA Savings Account

We offer an IRA Savings Account, which is a variable rate account and has no minimum balance requirements with no monthly or plan fees. This account can be used for a Traditional or Roth IRA.

*The interest rate and annual percentage yield may change at any time and will be determined at our discretion. Interest begins to accrue no later than the business day when the Bank receives credit for the deposit, usually the first business day after the banking day on which the deposit is received. Interest will be compounded quarterly and will be credited to the account quarterly. If the account is closed before interest is credited you will receive interest accrued to date of closing.

Go To Top