Time Deposit Accounts

  • Minimum deposit to open account - You must deposit $1000.00 to open this account

  • Rate information - Interest rate will vary depending on the term of the account.

  • Compounding and crediting frequency - Interest may be paid monthly, quarterly, semiannually or maturity by check, direct deposit in to another FCB account or compounded.

  • Renewal - Account will automatically renew unless otherwise specified.

  • Effect of closing an account early Subject to a substantial penalty for early withdrawal.

Individual Retirement Account

Want a safe easy way to save for your retirement or to fund your children's education?  With an IRA account, your funds are invested in a fixed rate certificate of deposit or a variable rate Time Deposit Open Account (TDOA). Our fixed rate IRA CDs requires a minimum opening balance of $1000.00 whereas the TDOA account can be opened with as little as $25.00. Please contact one of our IRA specialists to learn more about any of the IRA products we offer.

  • Traditional IRA - These IRAs are available to individuals under the age of 70 1/2 with earned income within the Modified Adjusted Gross Income (MAGI). Contributions are normally tax-deductible up to $5000 or $6000 per year, if 50 years old or older.

  • Roth IRAs - These IRAs are available to individuals with earned income within the Modified Adjusted Gross Income (MAGI) - regardless of age.  Contributions are not tax-deductible but your earnings grow tax deferred and most distributions are tax free.

  • Coverdell Educational Savings - These accounts can be set up by anyone for any child under the age of 18.  Contributions up to $2000 per year are not tax deductible but your earnings grow tax free and withdrawals are taken tax-free when used for educational purposes.

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