CVNB offers savings accounts to help you reach your financial goals.
- Regular Savings
- Club Accounts
- Certificate of Deposit (CD)
- Individual Retirement Account (IRA)
- Photo ID: Driver's License or State Issued ID (showing current address), or Passport
- Social Security or Tax ID number
- Initial Deposit, typically $50 for most accounts
Why should I open a savings account?
- Break the habit of relying on credit cards or personal loans during emergencies
- Money in your savings account is easily accessible (unlike other savings vehicles like your 401(k), certificates of deposit, or other investments.
Automate your savings & watch your money grow.
- Some employers will allow you to direct a set amount out of your paycheck to be directly deposited into your savings account.
- You can set up automatic transfers from your checking into your savings.
- Our Christmas and Vacation Club accounts encourage you to put away a set amount each week to reach your goals.
Savings Account options
This is our basic savings account. It pays the current rate of interest, compounded daily, paid quarterly.
- CVNB will transfer the amount you authorize from your CVNB checking account into your savings account every month - automatically.
- We can also automatically deposit your social security and retirement checks, military or corporate payroll, directly into your account for your security and convenience. Ask your employer about direct deposit of your payroll check.
Club Savings Accounts
A CVNB Christmas Club Account is an ideal way to save for Christmas. In October, you'll receive a check for the amount you deposited plus interest - just in time for Christmas shopping. (Interest will be compounded and credited to your account annually).
A Vacation Club Account helps you save for a much-needed vacation. In April, you'll receive a check for the amount you deposited plus interest. (Interest will be compounded and credited to your account annually).
Certificate of Deposit Account
CVNB can structure a Certificate of Deposit Account to fit your individual needs. We offer competitive fixed rate certificates. Minimum deposits for these accounts are $1,000. Federal regulations require penalty for early withdrawal. Certificate of Deposit accounts are insured by the FDIC.
Individual Retirement Accounts (IRA)
Investing in an IRA each year makes sense. Let CVNB help you save for your future. CVNB offers several IRAs that help you save for your retirement or educational needs. We offer Traditional, Roth and Educational IRAs with competitive rates and terms.
Quarterly online e-statements are free- you can download the files for viewing and safekeeping. If you prefer to receive statements via USPS, paper statements are $2 each quarter.
- Trust Administration
- Estate Administration