The Shiny Penny
A statement from Community State Bank President and CEO on the recent bank closures of Silicon Valley Bank (California) and Signature Bank (New York). Read More
More Money, More Interest
If you don’t need access to your funds right away and want the highest return on your money, consider a business certificate of deposit (CD). Terms range from 31 days to five (5) years.
An interest penalty may be imposed for early withdrawal.
Benefits of our Business CD
- Minimum balance to open: $500
- Terms: 31 days to 5 years
- No annual fee
- Interest earning*
- Early withdrawal fees: 3-month or 6-month forfeiture of interest (based on CD term)
* Interest rates are tiered: $500.00-$49,999.99; $50,000.00-$99,999.99; and $100,000.00 and greater.
Important Information About Opening a Legal Entity Account
Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (names, address, date of birth, Social Security number as well as identification documents) for:
- Each individual that has beneficial ownership (25% or more); and,
- One individual that has significant managerial control, of the Legal Entity.
If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.
We proudly support all efforts to protect and maintain the security of our customers and our country.