Certificates of Deposit (also called Time Deposits)

CD's are the highest yielding deposit accounts we offer.  Maturities of 30 days to two years are available in automatically renewable or fixed maturity types to individuals, businesses, and other organizations.  Large CD's, i.e., those for $100,000 or more are called "Jumbo" CD's.  Interest can be paid by a credit to your checking account, added back to your CD, or by a check mailed to you.
 

$1,000.00 to open CDs under $100,000

$100,000.00 to open Jumbo CD's

Penalty Charges:  Penalties may apply for early withdrawal.

To see rates and yields on CD's, call C.S.B. at 361.771.3391.

Individual Retirement Accounts (IRA's)

IRA's are special savings accounts, qualifying under Internal Revenue Service rules and regulations intended to encourage people to save for their retirement.  Traditional IRA's as well as SEP's, Roth, and Educational IRA's are available.  Minimum annual withdrawals are required beginning at age 70.5 for retirement IRA's.  C.S.B. IRA's are invested in CD accounts.

Penalty Charges:  10% excise tax if withdrawn before age 59.5 (in addition to any early withdrawal charges).