Banking should be on your terms. We provides options to allow you to choose how you want to bank. Take a look at our products and services and select the ones that meet your financial needs. Then meet with one of our bankers to get started.
You want options. We have choices.
At Community Bank, we offer a variety of checking and savings options to allow you to choose how you want to bank. With all Consumer accounts, you can add Online Banking, Bill Payment and a Debit/ATM Card. If you’re age 50 or better, check out our special Primetimers Club.
EMV Debit Card
Enjoy the Convenience of One Card
One card does it all when you use the Community EMV Debit Card that has the power of Visa®. You can use it just like a check by presenting it at the time of purchase. The amount is deducted automatically from your checking account. Typically you will receive a receipt for record keeping, and each transaction is detailed on your monthly checking account statement. You can also use your Community Bank EMV Debit Card at an ATM for quick access to cash.
You have three options to choose from when selecting a card with Community Bank:
Talk to a Personal Banker to learn more about which card will be best for you.
Using Your EMV Debit Card at Merchant Locations
You can use your debit card in two ways.
If the retailer has a chip-enabled terminal, simply insert your chip card face up in the terminal. The chip card will remain in the terminal while the transaction is processed. To authorize your transaction, just follow the prompts as you do today.
You'll be prompted to enter your PIN or to provide a signature as you normally would to verify the transaction. Your card is available to be removed from the terminal once the transaction is completed.
If the retailer does not have a chip-enabled terminal, swipe your card through the merchant terminal and enter your PIN, just as you do at an ATM.
Tips for Using Your Cards Responsibly
Upon receiving your new card, you will be required to activate the card. You can do this by calling the number listed on the card or making a withdrawal at an ATM. Your card and PIN number will be mailed to you in separate mailings. Before you use your card, be aware of these facts:
To Report a Lost or Stolen Check Card
Please advise us immediately if your card is lost or stolen. This is the best way to protect the funds in your account.
Savings & Certificates of Deposit
It’s often difficult to achieve a financial dream when so many everyday expenses seem to take priority. Let our team help make saving easy. Our savings accounts and certificates of deposit have low minimum balance requirement to make savings and earning more on your money.
Certificates of Deposit
When it comes to financial security in retirement, planning is where it all begins. We can help you set up a retirement account that will help you prepare for that fun and exciting retirement you’ve been dreaming of. If you’re already retired our bankers can assist you with a plan that keeps your money working hard for you.
It is never too early to start thinking about your Retirement. Many individuals rely solely on Social Security and employer-sponsored retirement plans to provide retirement income, but many times this provides inadequate income during retirement. At Community Bank, we offer a variety of services to help you save money for the future and help you plan successfully for your retirement.
An Individual Retirement Account, commonly called an IRA, is a personal savings plan which allows you to set aside money for retirement, while offering you tax advantages. At Community Bank we offer a variety of IRA accounts including the following:
Traditional IRA - A Traditional IRA is an account set up to save for retirement that offers special tax advantages. These include tax deductions on contributions if eligible, tax-deferred earnings, and additional tax credit for qualifying individuals.
Roth IRA - A Roth IRA is an account set up to save for retirement that offers special tax advantages that differ from a Traditional IRA. A Roth IRA does not offer a tax deduction for contributions made to the account but offers tax-exempt earnings for qualified distributions. It also offers tax-deferred earnings and an additional tax credit for qualifying individuals.
SEP - Simplified Employee Pension is a Traditional IRA set up by an employer for an employee. Only the employer can make contributions to the IRA and the employee is 100% vested in the account which means they have full ownership of the money.
SIMPLE - A Savings Incentive Match Plan for Employees allows employers to contribute to a traditional IRA for their employees. This account is ideal for small employers who want to start a retirement savings plan for their employees. Employers cannot have any other retirement plan and must contribute to the plan each year. Employees may also elect to contribute and are always 100% vested in the account.
Coverdell Education Savings Account - A Coverdell Education Savings Account is an account created as an incentive to help parents and students save for educational expenses. Contributions are not tax deductible but grow tax free until distributed. The beneficiary (someone under the age of 18) will not owe tax on the distributions if they are less than their qualified education expenses at an eligible institution such as a qualified higher education, elementary, or secondary education.
Transfers and Rollovers - If you are changing jobs, retiring or you would simply like to move your current IRA from another account to Community Bank, we can assist you with the transfer or rollover of your retirement dollars into an IRA.
Regardless of the type of IRA that you are interested in, Community Bank offers a variety of account options.
With all the different choices available, getting your mortgage with Community Bank makes good sense. Whether you are buying or building a new home, buying your lot or refinancing your existing mortgage, we can help. We offer experienced, local lenders, as well as local processing; underwriting and closing functions. Answers to your questions are just a phone call away.
Getting started is easier than you think.
During the application process, your mortgage lender will review program options to help you decide what program best fits your needs.
MHFA (Minnesota Housing Finance Agency)
Home Equity / Second Mortgage
Put Your Equity to Work for You!
Did you know that the equity in your home may be an inexpensive source of credit? It has the potential to fund financial goals for you and your family.
Borrowing against the equity in your home offers two major benefits:
Debt consolidation is just one of the many uses for your home's equity. The low interest rate, coupled with any tax break, can make it possibly the least expensive borrowing option available. You may be able to consolidate your higher-interest debts into one, lower monthly payment.
In addition, you may want to consider borrowing against your equity to fund such goals as:
There are two simple ways to get at the money built up in your home:
Home Equity Loan
Sometimes called a second mortgage, a home equity loan allows you to borrow a lump sum to be paid back in monthly installments over a specified periods. This loan option is best for major purchases or one-time expenses, such as a home remodeling project. Most home equity loans have a fixed interest rate for the term of the loan.
Home Equity Line of Credit
Rather than receiving a lump sum, this option lets you borrow against a given credit line as you need it. You can access your money by writing checks linked to the account. This option is good for expenses that are paid in installments, such as college tuition. Interest accrues only on the amount you actually use. Home equity lines of credit offer a fixed rate with a minimum monthly payment based on the outstanding balance.
Whether you should apply for a home equity loan or line of credit will depend on your personal circumstances. Contact one of our loan specialists today to learn you options so you can get on the road to reaching your goals.
We have the money you need for the life you lead. A variety of personal loans are available based on your specific financial situation. We’ve helped your friends and neighbors with their financing needs. Put us to work for you.
Certificate of Deposit Secured Loans
Overdraft Line of Credit
Choosing the right credit card is easier than ever. No matter which card you choose, you'll enjoy important features like:
Visa Platinum Card
Save on interest with an extended introductory rate and pay down other credit card balances faster.
Visa Bonus Rewards Card
Watch your rewards add up fast with 1 point for every $1 you spend on eligible net purchases, and receive automatic bonus points each month. Plus get $25 cash back* after your first purchase.
Visa Bonus Rewards Plus Card
Watch your rewards add up even faster with 1 point for every $1 you spend on eligible net purchases, and receive even more automatic bonus points each month. Plus get $50 cash back* after your first purchase - all with a low annual fee.
Cash Rewards American Express Card
Earn cash back* every time you use your card: 3% on gas, 2% at supermarkets, and 1% on all other eligible net purchases, plus $25 cash back* after your first purchase.
Travel Rewards American Express Card
Earn great rewards faster with 3x reward earnings on airline net purchases and 2x rewards earnings on restaurant and hotel net purchases and 1x reward earnings on all other eligible net purchases, plus get $75 cash back* after your first purchase.
Visa Secured Card
Start building (or rebuilding) your credit history, even if you've been turned down for other credit cards, with flexible credit lines based on a security deposit and a low annual fee.
*Rewards points can be redeemed as a cash deposit to a checking or savings account or as a statement credit to your credit card account. First purchase bonus points will be applied 6 to 8 weeks after first purchase and are not awarded for balance transfers or cash advances.
**Late payments and going over credit limit may damage your credit history
The creditor and issuer of these Cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., MasterCard International Incorporated, and American Express. MasterCard is a registered trademark of MasterCard International Incorporated. American Express is a federally registered service.
For more information about any the Credit Cards, contact a banker at any Community Bank location.