Top 5-Year CD Rates at Community Savings in Ohio


1.26*%$1k-Community Savings60 Month CD
Accounts mentioned in this post. Rates as of September 25, 2017.

Community Savings is offering two very competitive 5-year CD rates. For a $10K minimum deposit, the rate is 3.42% APY. It's 3.22% APY for a $1K minimum deposit. Most of the shorter term CDs are not quite as competitive. The one exception is the 12-month CD. They currently list a special 12-month CD with a 1.88% APY. This requires a checking account. The standard rate without a checking account is 1.44% APY. Minimum deposit for both is $10K. These rates are listed in the bank's deposit rates page as of 6/24/2010.

According to the bank's FAQ's page, the early withdrawal penalty for CDs with terms over 12 months is 6 months of interest. The 12-month CD has a 3-month early withdrawal penalty.

Also according to the bank's FAQ's page, accounts can be opened by mail:

You can submit an application for any of our deposit or loan products through the application links on this site. After you have submitted your application, print and mail a signed copy to the Bank along with your initial deposit.

I don't see where the application links are located. I've sent an email to confirm that they can accept out-of-state deposits by mail. It's common for small banks to change their policy on out-of-state deposits.

Branches are located in the Ohio cities of Caldwell and Cambridge.

The bank's ratings for safety and soundness are a little above average: 4 stars (excellent) at BauerFinancial, 3 stars (performing) at and an overall health score of 3 out of 5 at (see our Community Savings financial overview page). The bank has been a FDIC member since 1953 (FDIC Certificate # 27969).

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Related Pages: CD rates, Community Savings, Columbus, Wheeling

BillF   |     |   Comment #1
Their home page says that, "In general, each depositor is [FDIC] insured up to $100,000".  Hope they keep their other information more up-to-date.
Anonymous   |     |   Comment #3
Friday, 6-25-2010, 10:00 a.m. PDST:  By phone from bank:  they are NOT accepting out of state deposits at this time.
Anonymous   |     |   Comment #4
I was told that the five year cd was for local people only-the bank would correct their error in their ad -that was a month ago!!!!  I am not out of state-just do not live in Cambridge-so I will just have to find somewhere else to put my money!