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First for You. From the first
introduction to the first loan.

Cash Management
Reduce day-to-day cash concerns with our cash management tools.

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Business Savings, Money Market, and CDs/IRAs

 Classic Savings  | Classic Money Market  | Plus Money Market 
Municipal Money Market  |  Certificates of Deposit
Fixed and Variable Rate IRAs  |  SEP | SIMPLE | Traditional IRA
Roth IRA  |  Rollovers and Transfers

Classic Savings

An account for customers who want to earn interest, but may require access to their funds.

Features & Benefits

  • Competitive interest rate
  • $100 minimum to open
  • $100 average daily balance required to avoid a $3 monthly service charge
  • 6 debits per monthly statement cycle, $2 for each additional debit

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Classic Money Market

A savings account that offers competitive interest rates and easy access to your money with the option to write checks.

Features & Benefits

  • $2500 minimum to open
  • $2500 daily balance required to avoid a $10 monthly service charge
  • Unlimited withdrawals in person
  • 6 other withdrawals by ACH, VISA Check Card, check, draft, or preauthorized debit allowed per statement cycle
  • $10 fee for each transfer or withdrawal in excess of account limitations

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Plus Money Market

A savings account that offers competitive interest rates and easy access to your money with the option to write checks.

Features & Benefits

  • $10,000 minimum to open
  • $10,000 daily balance required to avoid a $10 monthly service charge
  • Tiered interest for balances $10,000 or more
  • Free Checks
  • Unlimited withdrawals in person
  • 6 other withdrawals by ACH, VISA Check Card, check, draft, or preauthorized debit allowed per statement cycle
  • $10 fee for each transfer or withdrawal in excess of account limitations

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Municipal Money Market

An FDIC insured savings account that offers variable, tiered interest Money Market rates for Municipalities.

Features & Benefits

  • $2500 minimum to open
  • Competitive tiered interest rates
  • $10 discount on annual rent for one safe deposit box
  • Free wire transfers
  • $2500 daily balance required to avoid a $10 monthly service charge
  • Unlimited withdrawals in person
  • 6 other withdrawals by ACH, VISA Check Card, check, draft, or preauthorized debit allowed per statement cycle
  • $10 fee for each transfer or withdrawal in excess of account limitations

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Certificates of Deposit (CD)

If you have the flexibility to deposit your money for a longer period of time, a CD offers a choice of terms and a guaranteed fixed interest rate.

Features & Benefits

  • Higher interest rates than savings accounts
  • $1000 minimum to open (on most CDs)
  • Early withdrawal penalty may apply

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Fixed Rate and Variable Rate Individual Retirement Accounts (IRAs)

A Fixed Rate IRA has a guaranteed return similar to a CD with the tax benefits of an IRA. A Variable Rate IRA has the tax benefits of an IRA, but the rate can vary during the life of the IRA. Additionally, withdrawals can be taken from the Variable Rate IRA as needed or automatically transferred to a checking or savings account at Community First Bank on a monthly basis to conveniently create an income stream.

Features and Benefits

  • Many terms and interest rates are available for the Fixed Rate IRA
  • $100 Minimum to open the Variable Rate IRA
  • $1000 minimum to open (most terms) a Fixed Rate IRA
  • No set-up or maintenance fees
  • Early withdrawal penalty may apply

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SEP (Simplified Employee Pension) IRA Features and Benefits

  • Type of traditional IRA for self-employed individuals or small business owners
  • Easy and inexpensive startup
  • Tax-deductible contributions are made by the business for all eligible employees
  • Higher contribution limits: 25% of income up to a cap that increases with inflation

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SIMPLE (Savings Incentive Match Plan for Employees) IRA Features and Benefits

  • A salary deferral plan for your employees
  • Small businesses with fewer than 100 employees are eligible
  • Easier to set up and administer than many other workplace retirement plans
  • Employees can make pre-tax contributions that grow tax deferred until retirement
  • Employers either match employee contributions (up to 3%) or make a 2% non-elective contribution
  • Employer contributions are tax deductible

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Traditional IRA Features and Benefits

  • Eligibility: Must be under age 70 ½ and have earned income
  • Contributions may be tax-deductible*
  • Earnings grow tax-deferred
  • Withdrawals
    • Taxable, but penalty free after age 59 ½
    • Prior to age 59 ½, subject to an additional 10% penalty tax**
    • Mandatory withdrawals must begin at age 70 ½

*consult your tax advisor
**certain exceptions may apply (disability, first-time home purchase, qualified higher education expenses, and others)
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Roth IRA Features and Benefits

  • Eligibility: No age limits, but income limits may apply
  • Contributions are not tax-deductible
  • Withdrawals
    • Original contributions may be withdrawn without tax or penalty*
    • Qualified withdrawals of earnings are tax-free and penalty-free**
    • Certain withdrawals may be subject to tax, but no penalty***
    • Early withdrawals may be subject to tax and 10% penalty
    • No mandatory withdrawals at age 70 ½

*consult your tax advisor
**qualified withdrawals: have had Roth IRA for five years and one additional qualification (over age 59 ½, disability, death, or qualified first-time home purchase (up to $10,000/life)
***exceptions to penalty may include health insurance, qualified higher education expenses, plan not open for five years (but other qualified reason) and others
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Rollovers and Transfers

We will gladly assist you with your 401(k) rollover or IRA transfer from another custodian. Bring in your last statement, maturity notice, or rollover paperwork for assistance today.
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Merger News

Keep up to date on the progress of the merger between CFB and LSB.

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Mortgage Center

Applying online is as easy as 1-2-3
 

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Trust Solutions

Preparing for your financial future.  Trusts and Investment services.

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