Certificates of Deposit

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certificates of depositA Certificate of Deposit, or CD from CNB is a time deposit similar to a savings account. CDs are insured by the FDIC and are virtually risk-free. They are “money in the bank.”  CDs  are different from savings accounts in that CDs have a specific fixed term and a fixed interest rate. It is recommended that you allow your CD to mature and then withdrawal it along with the accrued interest.

In exchange for keeping your  money on deposit with CNB, we will  grant you a higher interest rate than we do on accounts from which money may be withdrawn on demand. CNB offers the Anytime CD and also participates in the CDARS® program.

  • Interest rates are based on term lengths and deposit amounts. Ask for our current rate information.
  • Interest is deposited at maturity or annually. Interest can be deposited monthly, quarterly, or semi-annually into a checking or savings account depending on the amount of the CD.
  • Notice will be sent when the CD matures. The CD can be set up to renew automatically at the current rate at maturity if desired.
  • There is a $1,000 minimum to open a retail CD and a $100,000 minimum to open a jumbo CD.
  • A CD can be pledged as collateral for a loan.
  • Funds are insured by the FDIC up to $250,000.
  • There is a penalty for early withdrawal.
  • Interest will be transferred to your account at CNB or to an account at another financial institution of your choosing.