The Country Bank for Savings is a private community-focused group that offers full banking services since 1850. The main priority of the bank is to develop reciprocally valuable economic relationships with all of the clients it serves and the ventures it collaborates with. The fund is dedicated to developing and enriching the local communities in any way that it is able.
The Country Bank for Savings (CBS) has a wide selection of CDs available for their customers. If you decide to buy a Savings certificate and IRA certificate of deposit the minimum deposit required to start the procedure is only $500. However, if you decide to withdraw the money earlier than agreed you may be subject to some early withdrawal penalties. It is best that you choose the time that is most accommodating to your budget or situation so that you will not feel the need to consider withdrawing part or all of your money out early.
If you do not want to restrict your savings for a long period of time but want to earn some money, Country Bank for Savings has a distinctive six-month Relationship CD (certificate of deposit) with a very good 1.85% annual percentage yield (APY). If you plan on increasing the amount, relationship CDs are also available for periods of 15 months (2.25% APY) and even 24 months (2.5% APY).
The Country Bank for Savings CD rates can get you a higher yield for the money you invested, than a regular savings account. The most current rates are publicly available on the website found at http://www.countrybank.com/. Another important thing to note, is that all non-interest bearing transactions accounts are entirely guaranteed by the FDIC for the full amount that is in the account. All accounts were guaranteed up to $250,000 per depositor until December 31, 2010, however the amount now dropped to $100,000.
The CDs are accessible by any person nationwide, but, the checking accounts are only available to Massachusetts residents for the time being. Branches of Country Bank for Savings are functioning in Massachusets, Springfield and Worcester.
The bank has a strong rating for safety and soundness being listed with 5 stars (superior) at Bauer Financial (according to 9/30/09 data). Established over 160 years ago, the bank has been a FDIC member since 1982. The same as all banks in Massachusetts, deposits over the FDIC limit are automatically insured by Deposit Insurance Fund (DIF).