Savings Accounts

My Savings Account

This basic savings account provides an excellent way for you to start building toward your savings goal.

• Open with a minimum deposit of $100.00, and earn interest on balances of $100.00 or more.
• First two withdrawals each month are free. Each additional withdrawal is $2.00.
• A ReadyCard (ATM card) is free with this account.
• No transaction fees when you use your ReadyCard to make withdrawals, transfers, or balance inquiries at any ReadyBanker ATM. No more than six transfers per month are permitted from this account to others you own in this bank. Transfers by check, draft, debit card, or similar order to a third party are not permitted.
• Enjoy Free Internet Banking
• Semi-annual statements list all of your account transactions. (Monthly statements are sent if there have been any electronic transactions on your account).

My Platinum Savings Account

Reward yourself for saving - earn a higher rate!

• Watch Your Money Grow - Earn interest on balances of $2,500.00 or more.  Get the best rate on this account by maintaining a balance of $10,000.00 or more.
• Interest is paid monthly on this account, and you will receive a monthly statement.
• Open your account today with $2,500.00.  As long as you maintain a balance of $2,500.00 in your account, there will be no service charge.  If your balance does fall below $2,500.00, there will be a $25.00 monthly service charge.
• You are free to withdraw or deposit to your account anytime.  You can make withdrawals or deposits to your account as often as you like.  The first two withdrawals are free.  Additional withdrawals are $2.00 each.
• Enjoy free Internet Banking

My Financial Freedom Account

Premium rates for the serious saver.

• Watch Your Money Grow.  Earn interest on balances of $10,000 or more.  You'll get the best rate on this account by maintaining a balance  of $50,000.00 or more.
• Interest is paid monthly on this account, and statements are produced quarterly.
• Open your account today with $10,000.00.  As long as you maintain a balance of $10,000.00 or more in your account, there will be no service charge.  If your balance does fall below $10,000.00, there will be a $25.00 monthly service charge.
• You are free to withdraw or deposit to your account anytime.  You can make withdrawals or deposits to your account as often as you like.  The first two withdrawals are free.  Additional withdrawals are $5.00 each.
• Enjoy free internet banking.

My Money Market Account

Manage your money without it managing you!

• Open with a minimum deposit of $1,000.00, and earn interest on balances of $1,000.00 or more.
• Access your account in a variety of ways, including in-branch withdrawals, pre-authorized, automatic and telephone transfers and payments. You may also write up to three third-party checks or debits each month.
• No transaction fees on your first 25 transactions each month.
• As long as you maintain a balance of $1,000.00 or more, there will be no service charge on your account.  If your balance does fall below $1,000.00, there will be a $10.00 monthly service charge.
• You will receive a monthly statement on your acccount.
• Enjoy Free Internet Banking.

My Christmas Club Account

Plan ahead for those holiday purchases. We can automatically transfer any amount you predetermine from your CNB checking account to your Christmas Club account. Transfers can be made on a monthly or bi-monthly basis. Minimum deposit to open and earn interest is $1.00.

Automatic Savings Plans

CNB can assist you with a disciplined savings plan. You can set up any amount you choose to be transferred from your checking account to your savings account on a specific date every month.

Health Savings Accounts

Health Savings Accounts (HSAs) were created by H. R.1, the "Medicare Prescription Drug, Improvement and Modernization Act of 2003," and signed into law by President Bush on December 8, 2003 and are designed to help individuals save for future qualified medical and retiree health expenses on a tax-free basis.

New innovative Health Savings Accounts will change the way millions can save to meet their health care needs. Any individual who is covered by a high-deductible health plan (HDHP) may establish a HSA. A HDHP is a health insurance plan with minimum deductible of $1,000 (self-only coverage) or $2,000 (family coverage). Maximum contributions to an HSA are equal to the deductible amount or $2,650 (self-only coverage) or $5,250 (family coverage). The annual out of pocket (including deductibles and co-pays) cannot exceed $5,000 (self-only coverage) or $10,000 (family coverage). HDHPs can have first dollar coverage (no deductible) for preventive care and higher out-of-pocket (copays &co insurance) for non-network services. Amounts contributed to an HSA belong to individuals and are completely portable. Every year the money not spent would stay in the account and gain interest tax-free, just like an IRA. Unused amounts remain available for later years (unlike amounts in Flexible Spending Arrangements that are forfeited if not used by the end of the year).

Tax-advantaged contributions can be made in three ways:

• The individual and family members can make tax deductible contributions to the HSA even if the individual does not itemize deductions
• The individual's employer can make contributions that are not taxed to either the employer or the employee
• Employers with cafeteria plans can allow employees to contribute untaxed salary through a salary reduction plan.

Funds distributed from the HSA are not taxed if they are used to pay qualifying medical expenses. To encourage saving for health expenses after retirement, HSA owners between 55 and 65 are allowed to make additional catch-up contributions to their HSAs. Individuals eligible for Medicare may not open an HSA.