Answers to your most frequently asked questions

Money FAQs

Q: How much do I need to open a checking account? A Savings Account?

A: A $100 deposit is required in order to open a checking account.  A savings account requires a $100 deposit ($10.00 minimum for minor accounts).

Q: What happens when my CD matures?

A: We will send you a notification 10 days before your certificate comes due.  Once your CD has matured, you will have 10 days to withdraw the money or renew the certificate. If you do not withdraw the funds, the account will automatically renew, unless at account opening you specified that the account not be automatically renewable.

Q: Are my deposits at Community Bank FDIC insured?

A: Yes.  The FDIC insures deposits up to an aggregate of $250,000 per individual and perhaps more if accounts are held in different ownership capacities, ie. – Individual, joint, retirement, and testamentary.  Your money is safe with Community Bank.

Q: What is a Privacy Policy?

A: A privacy policy is a way to let you know how we collect and use information about you.  Because information is the key to providing you with safe and sound financial services that will help you reach your goals, we want you to have confidence in how we manage personal financial information. Our privacy Policy is an expression of our practices and our commitment to you.  We provide you with a copy of our Privacy Policy at the time of establishing an account relationship with you and annually thereafter. Click here to read our Privacy Statement.

Q: What kinds of information/documentation do you require to open an account?

A: Our bank complies with Section 326 of the USA Patriot Act, which requires financial institutions to obtain, verify and record information that identifies each person who opens an account.  We may also request a picture ID of each person opening a new account.

Q: How does “Check 21” affect the check clearing process?
A: Effective October 28, 2004, a federal law called the Check Clearing for the 21st Century Act, or “Check 21” began to change the way your checks are processed for payment.  Check 21 speeds up how checks are cleared through the banking system as banks no longer have to transport original checks.  Under Check 21, Community Bank, or any other bank or financial institution, may process your check and replace it with a copy made from a digital image of the original – a “substitute check”.  Banks are now able to exchange these substitute checks to expedite the check clearing process.  Due to increased efficiency, your checks may be processed faster and clear sooner, so be sure to have sufficient funds in your account before writing a check.  In addition, some of the checks contained in your statements may look different than others, as they may be images of the “substitute check”.