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Certificates of Deposit

CB&S Bank can structure a Certificate of Deposit to fit your individual needs.  We offer competitive rates and flexible terms with maturities up to 60 months.  Your money is safe and secure because all deposits are insured by the FDIC for the maximum allowed by law.  Ask us for details. 

  • Low minimum opening deposit of $1,000
  • Rates are fixed and guaranteed for the length of the term selected*
  • For your convenience, certificates may be automatically renewed upon maturity. 

*Substantial penalty for early withdrawal 

Individual Retirement Account

An Individual Retirement Account (IRA) is a special savings plan that allows you to put aside money you earn today to be used later for retirement.  You may deposit into an IRA even if you belong to a retirement plan at work.  Depending upon your income and retirement plan at work, your income tax liability on IRA deposits may be deferred. 

What is the difference between a Traditional IRA and a Roth IRA?

The main difference between a Traditional and Roth IRA is when you pay taxes on your investments. Traditional IRAs delay the taxes until retirement; taxes are deferred until you begin your distributions at age 70 ½.  With Roth IRAs, you pay taxes now rather than later.  Roth IRAs give you no up-front tax break, but you do not have to pay tax on withdrawals during retirement.

Traditional IRA

A traditional IRA is a tax-deferred retirement savings account. You pay taxes on your money only when you make withdrawals in retirement. Deferring taxes means all of your interest adds back to your IRA without being hindered by taxes - allowing an IRA to grow much faster than a taxable account.  If you (or your spouse) earn taxable income and are under the age of 70 ½ you can contribute to a Traditional IRA.  Determining if your contributions will be tax deductible depends on your income and whether you have access to a work-related retirement account.  Also, with a Traditional IRA, at the age of 70 ½ you can no longer make contributions and will be required to start taking minimum distributions. 

Roth IRA

A Roth IRA is a retirement savings account that allows your money to grow tax-free. You fund a Roth with after-tax dollars, meaning you've already paid taxes on the money you put into it. In return for no up-front tax break, your money grows and grows tax free, and when you withdraw at retirement, you pay no taxes. That's right - every penny goes straight in your pocket.  Roth IRAs allow you to leave your money untouched for as long as you like.  You may also continue to contribute to your Roth IRA regardless of your age.

Use our calculators to help you make smart financial decisions and choose the IRA option that works best for your needs.  Visit one of our convenient locations or call us at 877-332-1710 to learn more about eligibility, contribution limits, and competitive rates.