CDs to Focus Your Savings
If you're looking for an account that will truly maximize your savings, a Certificate of Deposit (CD) from FNBCC may be the right solution. Our CDs offer higher rates than most traditional savings accounts, allowing you to earn more on your balance. Here's what you need to know about personal CDs at FNBCC:
- $500 minimum opening deposit required
- Terms range from 7 days to 60 months
- Interest can be paid monthly or accrued and paid at maturity
- Multiple options available at full maturity, including cash out or reinvestment
- Early withdrawals are subject to penalty
Ready to open a CD at FNBCC? Contact us online to connect with our team and start the process.
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Retirement Accounts at FNBCC
Are you saving enough for retirement? Do you know when you'll be able to retire, or whether you'll have the money to live the way you want once you get there? If those questions leave you unsure, an Individual Retirement Account (IRA) from FNBCC can help.
We offer both Traditional and Roth IRAs, so you can choose the option that fits your goals. Accounts open with just a $250 minimum deposit, and interest accrues daily, so your money is always working for you. Stop by your local FNBCC office and our banking team will help you find the retirement account that's right for you.
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Traditional IRA*
A Traditional IRA is a personal retirement account that lets you make tax-deductible contributions today, helping lower your taxable income now. Your earnings grow tax-deferred, and you'll pay ordinary income tax on withdrawals in retirement.
- Best for those who want an upfront tax break and flexibility in retirement planning
- Tax-deductible contributions (subject to income limits and employer plan participation)
- Tax-deferred growth on investments
- Required minimum distributions (RMDs) starting at age 73
- Early withdrawal penalties apply before age 59½
Roth IRA*
A Roth IRA offers tax-free growth and tax-free withdrawals in retirement, making it a great fit if you expect to be in a higher tax bracket down the road. Contributions are made with after-tax dollars, and there's no required minimum distribution during your lifetime.
- Best for those who want tax-free income in retirement
- Tax-free growth and withdrawals (once the account is at least 5 years old and you're 59½ or older)
- Contributions are not tax-deductible
- No required minimum distributions
- Income limits apply for eligibility
* This information is provided for educational and illustrative purposes only and is not intended to be, nor should it be construed as, legal or tax advice. Tax laws are complex and subject to change. Consult a qualified tax advisor or CPA regarding your specific financial and tax situation.