Community Financial Service Bank Offers 49-Month CD


Deal Summary: 49-month CD Special, 3.09% APY, $1k minimum deposit

Availability: Nationwide

Community Financial Services Bank (CFSB) recently added three CD Specials, of which the 49-month CD Special (3.09% APY) is the most competitive. Any of CD Specials can be opened with a $1k minimum deposit, with no stated balance cap.

3.09%$1k-Community Financial Services Bank49 Months CD Special
3.09%$1k-Community Financial Services Bank49 Month IRA Special (Traditional, Roth)
Rates as of September 21, 2018.

The CD Specials are also available as IRAs (Traditional, Roth, and CESA) earning the same APYs, with the same funding requirements.

As stated in the fine print on the Certificates of Deposit page,

For CDs of at least 12 months: interest may be added back to
principal every three months or deposited into another account.

In a Live Chat, CSR stated the Early Withdrawal Penalty is “12 months’ worth of interest on the amount being withdrawn, and a $35 fee.”

Funding a CD and Accessing Maturing Funds

Funding a CD can be done by ACH, wire transfer, or check. There is a 10 day grace period, starting the day of maturity. CFSB’s standard procedure for distributing funds is a check, but a wire ($35) or ACH transfer are also options.

Thanks to DA reader, Carpline, for his Forum post about the 49-month CD Special.

Kasasa Cash and Kasasa Saver

CFSB’s Kasasa Cash account has been earning 2.25% APY on qualifying balances up to $20k since June 2016. The companion Kasasa Saver account earns 1.00% AYP on qualifying balances up to $30k, a rate and cap that have been in effect since March 2013. More detail about these two accounts can be found in my earlier blog post.

2.25*%-$20kCommunity Financial Services BankKasasa Cash
OTHER TIERS: 0.50% $20k+
1.00*%-$30kCommunity Financial Services BankKasasa Saver
OTHER TIERS: 0.50% $30k+
Rates as of September 21, 2018.


Since I last wrote about Community Financial Services Bank, the Bank has expanded its market area for CDs. Headquartered in the far-western Kentucky town of Benton, CFSB now “accepts Certificate of Deposit (CD) applications nationwide.” Checking and savings account application are restricted to “residents in Kentucky, Tennessee, Indiana, Illinois, Missouri, and existing clients.”

In addition to applying online, CDs can also be opened at any of the six full-service Kentucky branches located in Benton (2), Calvert City, Murray, and Paducah (2).

Bank Overview

Community Financial Services Bank has an overall health grade of "B+" at, with a Texas Ratio of 15.02% (above average) based on March 31, 2018 data. In the past year, CFSB has increased its total deposits by $124.49 million, an excellent annual growth rate of 16.77%. Please refer to our financial overview of Community Financial Services Bank (FDIC Certificate # 287) for more details.

Founded in 1890 as the Bank of Benton, Community Financial Services Bank is currently Kentucky’s tenth largest bank, with assets in excess of $1.07 billion. As the first bank established in Marshall County, Bank of Benton ended its first year of operation with assets of $26,221 (approximately $700k in 2018 dollars). The Bank acquired Calvert Bank in 2001 and re-branded in 2007 as Community Financial Services Bank.

How the CD Special Compares

When compared to the 185 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available nationwide, Community Financial Services Bank’s 49-month CD Special APY currently ranks third.

The above rates are accurate as of 7/23/2018.

To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Paducah checking accounts, reward checking accounts, 5-year CD rates

Community Financial Services Bank Has 55-Month Bump Up CD
Availability: Market area includes Indiana, Illinois, Kentucky, Missouri and Tennessee.

Community Financial Services Bank (CFSB) is offering a 55-month “RR” CD Special (2.16% APY) that permits two rates increases anytime during the term of the CD. While the majority of CFSB CDs require a $1k minimum, the 55-month RR CD Special requires a $10k minimum deposit; there is no stated balance cap.

The RR CD Special is available as an IRA (Traditional, Roth, and CESA) earning the same APY, with the same funding requirements.

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Community Financial Services Bank (KY) Has CD Specials
Availability: CDs require an in-branch visit to open. Market area includes Indiana, Illinois, Kentucky, Missouri, and Tennessee.

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