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.

In a Live Chat, CSR stated the Early Withdrawal Penalty is “a $35 penalty and 6 months’ worth of interest.”

Thanks to DA reader, tbradnc, for his Forum post about this deal.

Kasasa Cash and Kasasa Saver

In June, I wrote about CFSB’s Kasasa Cash account that earns 2.25% APY on qualifying balances up to $20k, and the companion Kasasa Saver account that earns 1.00% AYP up to $30k. 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 July 14, 2018.


Headquartered in the far-western Kentucky town of Benton, Community Financial Services Bank’s market area extends into Indiana, Illinois, Kentucky, Missouri and Tennessee.

Opening a CD at CFSB must be done at any of the five Kentucky branches located in Benton (2), Calvert City, Murray, and Paducah.

CFSB’s online banking platform is currently limited to account management and bill pay services, although the Bank’s Kasasa Cash and Kasasa Saver accounts can be opened online.

Bank Overview

Community Financial Services Bank (FDIC Certificate # 287) has an overall health grade of "A" at, with a Texas Ratio of 5.92% (excellent) based on September 30, 2016 data. In the past year, CFSB has increased its total deposits by $71.74 million, an excellent annual growth rate of 10.33%. Please refer to our financial overview of Community Financial Services Bank for more details.

Founded in 1890 as the Bank of Benton, Community Financial Services Bank is Kentucky’s 13th largest bank, with assets in excess of $927 million. As the first bank established in Marshall County, Bank of Benton ended its first year of operation with assets of $26,221 (approximately $690k in 2016 dollars). The Bank acquired Calvert Bank in 2001 and re-branded in 2007 as Community Financial Services Bank.

How the CD Compares

When compared to the similar length-of-term CDs tracked by, which require a similar minimum deposit and are available in the Bank’s market area, Community Financial Services Bank’s 55-month CD Special APY currently ranks fifth, but the Bump Up feature adds to its competitiveness.

The above rates are accurate as of 12/22/2016.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table or our Rates Map page.

Anonymous   |     |   Comment #1
These CDs that permit you to increase your rate are mostly cons. The CDs are usually odd rates (This one is 55 months). What the bank will do is not offer a rate increase on a 55 months CD but raise the rates on CDs that are close like a 48 or 60 month CD.
Community Financial Services Bank (KY) Offers Competitive Kasasa Cash
Availability: Market area for Kasasa Cash and Kasasa Saver includes Kentucky, Indiana, Illinois, Missouri, and Tennessee.

As I mentioned earlier this week, Community Financial Services Bank (CFSB) offers a Kasasa Cash account that is available online in five states. In one of those ill-timed coincidences, the APY on the Kasasa Cash account dropped the day after I alluded to a soon-to-be-written blog post.

The new rate is 2.25% APY (down from 3.05% APY) on qualifying balances up to $20k. Qualifying balances over $20k earn 0.50% APY, with non-qualifying...

Continue Reading
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.

Last week, Community Financial Services Bank (CFSB) raised the rates on its 33-month CD Special (2.02% APY) and 63-month CD Special (2.27% APY). The minimum deposit for either CD Special is $1k, with no balance cap.

These CD Specials have been part of the product line for less than a year, and the current APYs are the highest in their short-lived history.

Both CD Specials are available as IRAs (Traditional, Roth,...

Continue Reading
New Kasasa Cash and Saver Accounts with Top Rates at CFSB

It has been awhile since I reviewed a new reward checking account. Most new reward checking accounts haven't been worthy of a blog post due to their disappointing low rates and/or balance caps. This one at Community Financial Services Bank (CFSB) is good enough to make it worthy of a blog post. CFSB's reward checking account isn't really a new account. We have been tracking its rates since 2010. However, the reward checking account name has recently changed from free eRewards Checking account to Kasasa Cash. The bank has also...

Continue Reading

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.