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Savings

Whether saving for a future milestone or for a rainy day, you can choose from a variety of options that let you earn interest while you save.

Savings tip: Your savings should total as least three to six months of household spending.

To figure out your FDIC insurance limits click here.

Savings Accounts

Account Type Minimum to

Open

 Minimum to Earn

Stated APY

 Interest Rate Annual Percentage

Yield

 Interest

Compounded
  • Additional disclosures are available to explain the calculation of Annual Percentage Yield (APY).
  • At our discretion we may change the interest rate on your account at any time.
  • Interest is compounded and credited monthly.
  • Fees may reduce earnings.
  • Rates Effective January 1, 2020
Savings $100.00 $10.00 0.10% 0.10% Monthly
Savings $100.00 10,000.00 0.20% 0.20% Monthly
Christmas Club $5.00 $10.00 2.50% 2.50% at Maturity
Kids Club $5.00 $10.00 0.10% 0.10% Monthly

Make Christmas shopping a pleasure each year by opening a Christmas Club account:

  • $5 minimum opening balance
  • No monthly maintenance fees
  • Deposits of any amount can be made during the months of November through the following October
  • Interest rate for this account is 2.50% with an Annual Percentage Yield (APY) of 2.50%
  • If a withdrawal is made, interest accrued to the date of the withdrawal will be forfeited
  • A check will be issued to you on or around October 15th
  • Interest will be paid on balances up to and not exceeding $1,250.00
  • Only one account per tax identification number allowed

We reserve the right to require seven days notice of intent to withdraw.

Teach your children the value of savings with our Kids Club account:

  • Special savings and fun extras for children under 18
  • $5 minimum opening balance
  • No monthly maintenance fee

For current rates click here

A great way to build your personal savings:

  • $100 minimum opening balance
  • $1 fee if balance drops below $100, unless customer is under 18
  • Six transfers per month – $1 fee for each withdrawal thereafter, unless daily balance is $150 or more
  • Unlimited transfers per month between accounts of the same depositor
  • Unlimited withdrawals per month if done in person, by messenger, by mail, at an ATM, or by telephone with check mailed to account holder

For current rates click here.

We reserve the right to require seven days notice of intent to withdraw. Rates are subject to change after account is opened, and fees may reduce earnings.

Bonds are a safe, easy investment with tax benefits:

  • Can be replaced if lost, stolen, or destroyed
  • Can be cashed as early as twelve months after purchase
  • Interest added monthly
  • Cost is half of the face value of the bond

The United States Treasury has suspended selling bonds over the counter at Financial Institutions. To purchase a bond now you must do it directly through the U.S. Treasury. The website to purchase a new bond is www.treasurydirect.gov.

If you have questions on the new process please contact your local Citizens First Bank branch for help.

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