Savings

A savings plan with Community offers maximum earnings and convenience.

• This is a variable rate account.  
• There is a $100.00 minimum balance requirement to open and maintain on the account.
• Interest is compounded daily, and paid (credited) at the end of each quarter. Interest accrues on the day of deposit to the day of withdrawal on accounts that remain open until the end of the quarter.
• The minimum deposit and withdrawal amount is $10.00. 
• Our Regular Savings accounts are available with a passbook, statement or a combined statement/passbook account for record keeping.
• Statement and combined/statement accounts with a $500.00 balance qualify for a Community Total Service Card.

      Juniors Savers Statement Savings 

• This is a variable rate account. 
• There is a $10.00 minimum balance requirement to open and maintain in this account. 
• Minor must be age 17 or under.
• A parent or legal guardian must be present at account opening and must be listed as a joint owner on the account. 
• The minimum withdrawal or deposit amount is $1.00. All withdrawals over $25.00 the parent signature is required.

 Checking

Community NOW Checking Accounts offer many benefits to fit your Banking needs.

 

NOW CHECKING  

• This is a variable-tiered rate account. 
• There is a $400.00 minimum balance requirement to open and maintain a NOW account for customers who do not have a regular savings account or money market account.  
• There is $1.00 minimum balance requirement that can be maintained in a NOW account for those customers who maintains $1,000.00 on deposit in a related account (i.e. Regular Savings account or Money Market account). 
• A minimum balance of $1,000.00 is required to begin earning interest on the NOW account. The entire account earns interest at the Super NOW rate, for those days in the monthly checking cycle that the balance is greater than $2,500.00. 
• Interest is calculated from the day of deposit to the day of withdrawal. Interest is compounded and paid (credited) monthly, on the last day of the checking statement cycle.
 

CONVENIENCE CHECKING 

• There is a $1.00 minimum balance requirement to maintain a Convenience NOW Account.
• There is no APY or interest paid on this account. 
• Standard Service and Account Activity fees apply.
 

BUSINESS CHECKING 

• A $1,000.00 minimum balance is required and must be maintained for a business account.
• Business accounts do not earn interest. 
• Standard Service and Account Activity fees apply. Standard service fees may be reduced by maintaining a compensating balance sufficient to offset charges. 
• Community reserves the right to close the account should the balance drop below the minimum.
 

New - Easier NOW Account Record Keeping

NOW Account customers receive their monthly statements with images of checks instead of the checks themselves. Binders to store check images are available for customers at no charge.

 

Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.
 
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov

 

Money Market

A Community money-market account is a smart decision for the long-term saver.

• A $500.00 minimum balance is required to open and maintain a Money Market Account.
• $100.00 minimum balance is required to keep the account open. 
• This is a three tiered account, with the following tiers: I. $1-$2,500 (base rate); II. $2,501-$25,000; III. Over $25,000. Higher Money Market rates are paid on Tier II and Tier III funds.
• Interest is compounded and paid (credited) monthly, on the last business day of each month. Interest is calculated from the day of deposit to the day of withdrawal. Money Market rates are set each month and guaranteed for the entire month.
• The minimum transaction amount is $500.00. 

For more information about our accounts please contact one of our Savings Counselors during regular business hours at (773) 685-5300. For current rates please call us or refer to the Deposit Rates page within our website.