Deposit Accounts

Community National Bank provides professional banking products and services in a friendly small town atmosphere.

Our experienced staff will do their best to meet your financial needs. It is banking that is honest and direct with no complications. The following gives a brief description of the accounts offered here at Community National Bank:

Regular Checking Account

This type of account is our basic free personal checking for customers who want unlimited check writing privileges with a low minimum balance requirement of $500. No monthly maintenance fee or transaction fees apply if the account maintains a $500 minimum daily balance. If your balance drops below $500 anytime within the statement cycle, there will be a $6.00 maintenance fee and a transaction fee of $.15 per check or debit paid. This account requires a $100 minimum opening balance.

Priority Club Checking Account

This type of account is our most popular personal checking account because it provides our customers with additional benefits and protection.

For one low monthly fee of $8.50, this premium package includes Identity Theft Protection, Accidental Death & Dismemberment Insurance, Cellular Telephone Protection, Health Discount Savings, $hopping Rewards ^TM, Travel and Leisure Discounts plus a complimentary debit card. For a full list of benefits, please contact your local office.  This account requires a $100 minimum opening balance. There is no minimum balance requirement or any transaction fees associated with this type of account. Terms and conditions apply. Some benefits require authentication, registration and activation. Health discounts are not insurance. Shopping and travel savings are available online only. Please contact a Bank Representative for full details.

Senior Citizen/Student Checking Account

This type of account is a specially packaged personal checking account for those age 65 and over or full time students under the age of 22. This account offers unlimited free checking with no service charges and no minimum balance requirement. However, this type of account is limited to one free account per customer. For our student checking, any full-time student under the age of 18 must be co-owned by a parent or legal guardian 18 years of age or older. Both accounts require a $100 minimum opening balance.

Now Account

This type of account combines the best features of a personal checking and savings account with interest on a minimum daily collected balance. As a tiered rate interest bearing account, a $1,500 minimum opening balance is required. There is no monthly service charge if the account maintains the minimum $1,500 daily balance required. If the account falls below the minimum $1,500 daily balance for any day of the statement cycle, a maintenance fee of $5.00 will be imposed for that particular statement cycle. An additional transaction fee of $.15 per item will be charged for each check or debit paid if the minimum daily balance falls below $1,500 any day of the statement cycle. Accounts that maintain the minimum daily balance will incur a transaction fee of $.15 for each check or debit paid over 20 during the statement cycle. Furthermore, the account must maintain a minimum collected balance of $500 for interest to accrue.

Money Market Deposit Account

This tiered rate interest bearing account is ideal for those consumer and business customers who are able to maintain a higher balance and do not write many checks. This account requires a $2,500 minimum opening balance and must maintain a minimum collected balance of $2,500 for interest to accrue. A maintenance fee of $10.00 will be imposed if the daily balance in the account falls below $2,500 any day of the statement cycle. An excessive money market transaction fee of $5.00 per transaction item will be charged for each transaction over six (6) items per statement cycle. Exceeding these limitations may require that we close your account in order to comply with federal regulations.

Commercial Checking Account

This business/commercial checking account is a non-interest bearing account that is best used to manage day-to-day business or commercial transactions with unlimited check writing availability. This type of account has a monthly maintenance fee of $7.50 with an additional item fee of $.15 per debit. This account will receive an investment credit of $.075 per $100 on the minimum ledger balance for the statement cycle to offset the monthly maintenance fee and any item fees. The investment credit may change at any time without notice. This type of account also comes with a complimentary debit card and requires a $100 minimum opening balance.

Personal/Business Savings Account

This type of account is a traditional savings account for individuals and businesses. There is no monthly service charge for accounts that maintain a $100.00 balance. If your balance falls below this $100.00 minimum at any time during the statement cycle, a $2.00 maintenance fee will apply. Interest is accrued quarterly and credited quarterly to your account on the last business day of each calendar quarter. A transaction fee of $2.00 will be charged per debit paid over three (3) in a month. Requires a $100 Minimum opening balance.

Certificates of Deposit

As a tiered rate interest bearing account, the interest rate and annual percentage yield will depend on the daily balance of the account. Certificates are available for periods as short as seven (7) days or as long as five (5) years. Minimum initial deposit is $1,000 for most periods. The interest rate is fixed for the term of the deposit and additional deposits are not permitted. If, however, you wish to withdraw the funds before maturity, an early penalty withdrawal fee will apply.

Individual Retirement Accounts

Traditional IRA

The traditional IRA is an account, which allows you to defer taxes on your earnings until they are withdrawn. In addition, certain contributions are tax deductible in the tax year for which they are made.

Roth IRA

The Roth IRA is a nondeductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, people who expect to be in a higher tax bracket when they retire may benefit more from these accounts than from a traditional IRA.

Education IRA

The Education IRA is a nondeductible account that features tax-free withdrawals for a very specific purpose--a child's higher education expenses. At first glance, the Education IRA may look similar to Traditional and Roth IRAs. However, while higher education distributions from a Traditional or Roth IRA are penalty free, the same distributions from an Education IRA are both penalty free and tax-free.

This information is provided for marketing purposes only and is not intended to be a full disclosure. Full disclosures will be provided upon request or when an account is opened. Please contact one of our new account representatives at 405-263-7491 (Okarche) or 580-227-4426 (Fairview) to obtain rates on any of our interest bearing accounts.