Certificates of Deposit provide a way to save that is FDIC insured and virtually risk-free. It differs from a regular savings account in that they have a specific fixed term, anywhere from three months to five years, and usually earn interest at a fixed rate. In exchange for keeping your money on deposit for a set period of time, Community First Bank pays a higher rate of interest than on accounts from which money can be drawn on at any time. The purchaser of a Certificate of Deposit can choose how they want interest to be paid: by check, transferred to another account within the bank, or added to the face amount of the Certificate of Deposit. You will receive a notice prior to the maturity of your account.  If we donít hear from you, the Certificate will be automatically renewed for the same amount of time as the previous period. A substantial penalty is charged for early withdrawal.

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