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Cumberland Security Bank 107 South Main Street Somerset, KY 42501
606-679-9361



Copyright 1998-2013 Cumberland Security Bank. All rights reserved.




PASSBOOK SAVINGS
  • Interest is compounded and credited quarterly
  • Quarterly statements
  • Statement Options:
    • Online statements or
    • Paper statements: $1.50 per quarter fee (waived for customers aged 62 or older)
  • E-mail notices are also available
  • $10.00 minimum opening deposit
  • Limit 6 withdrawals per quarter
  • Interest rate subject to change daily
  • Dormant Fee: $5.00 per quarter after 12 months inactivity on balances less than $500.00
  • $2.95 excess withdrawal fee over 6 withdrawals per quarter
  • Minimum Balance Fee: $3.00 quarterly fee if balance falls below $100.00

HEALTH SAVINGS
  • To be eligible for a Health Savings Account, an individual must be covered by a HSA-qualified High Deductible Health Plan (HDHP) and must not be covered by other health insurance that is not an HDHP.
  • Tiered interest bearing account
  • Interest rate subject to change daily
  • Interest compounded and credited monthly
  • Monthly statements
  • Optional e-mail statements
  • Account access via VISA debit card
  • No minimum balance requirement
  • No monthly maintenance fee
  • Free Online Banking
  • $25.00 early closure fee if closed within 180 days of account opening

CERTIFICATES OF DEPOSIT
  • Various terms, ranging from sixty (60) days to sixty (60) months
  • E-mail notices are available
  • Automatically renewable
  • Interest is paid until maturity of the certificate
  • Interest may be paid by check or deposit into a designated account
  • Interest is compounded and credited annually
  • Annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
  • $1,000.00 minimum opening deposit
  • No additional deposits may be made into this account
  • Withdrawals made before the maturity date may result in the following penalties:
TERM PENALTY
0-12 months
13-35 months
36-60 months
 3 months’ interest
6 months’ interest
12 months’ interest


18 MONTHS FIXED INDIVIDUAL RETIREMENT ACCOUNT
  • Interest is compounded and credited semi-annually
  • Contributions may be tax deductible
  • Interest income may be tax deferred
  • $1,000.00 minimum opening deposit
  • Withdrawals before age 59 ½ may be subject to penalty
  • E-mail notices are available

18 MONTHS VARIABLE INDIVIDUAL RETIREMENT ACCOUNT
  • Interest is compounded and credited semi-annually
  • Contributions may be tax deductible
  • Interest income may be tax deferred
  • $1,000.00 minimum opening deposit
  • Withdrawals before age 59 ½ may be subject to penalty
  • Interest rate subject to change weekly
  • E-mail notices are available