CD’s & IRA’s

Certificates of Deposit

Opening a certificate of deposit at Community Point Bank is an easy way to invest the hard-earned money you are not planning to utilize in the near future. With variable terms up to six years, you can choose the growth timeframe that works best for you. Be it three months, six months or even five years, Community Point Bank provides attractive and competitive interest rates.

When you open your CD, you have the option of compounding your interest for additional growth, receiving it by check, or depositing it into one of your other Community Point Bank accounts. Please note that early withdrawal penalties will apply to CD accounts.

For more information on setting up your bank CD, the minimum balance required to open an account, or for any current CD specials or interest rates, please contact Community Point Bank in Russellville, Eugene or Versailles. We look forward to hearing from you.

Individual Retirement Accounts

Regardless of your age, it is wise to begin saving for retirement as soon as financially possible. Individual Retirement Accounts (IRAs) can help you make sure you will have the funds and financial security you need to sustain your everyday expenses – and more – once you reach retirement.

If you need assistance opening an IRA, or are seeking more information about IRAs and the different types available, give us a call. We’d be happy to help you determine which plan could be right for you.

Traditional IRA

The traditional IRA is an easy way to save your pre-tax income for retirement. For some, opening a tax-advantaged traditional IRA could mean that you become eligible for tax deductions (based on your income level and other factors). Money deposited into a traditional IRA is not taxed until it is withdrawn.

Roth IRA

Roth IRAs and traditional IRAs are very similar except for the distinction that the money deposited into a Roth IRA has already been taxed. Earnings gained in a Roth IRA can then be withdrawn tax-free during retirement.