Certificate of Deposit

Certificates of Deposit

A Certificate of Deposit account, also commonly referred to as a CD, is a time deposit account. This means that in exchange for you agreeing to keep your money in the account for a specific period of time, the bank will generally pay you a higher rate of interest than you would earn in a savings account. At the end of this time period (what bankers like to call “maturity”) you can either withdraw the money along with the interest that you earned, or let the CD automatically renew for another term.


The benefits of purchasing a CD from First National Bank of Moose Lake include:

  • The security of a fixed rate investment with FDIC insurance is a safer investment than the ups and downs of Wall Street.
  • Several CD options to help you meet your investment goals whether they are short or long term.
  • Small opening minimum deposit of $500 to get started earning more for young and old alike.
  • May be used as collateral for a loan (subject to credit approval) for emergencies or needed purchases without reducing those hard earned savings.
  • Automatically renewable, unless you withdraw the funds at maturity, making it easy to reinvest.

 Rate Sheet  click to see our current rates.  Fees may reduce earnings.



CDARS – Certificate of Deposit Account Registry Service

Through a national Network – the CDARS Network – of financial institutions, you can access multi-million-dollar FDIC protection. Using CDARS, we place your deposits into smaller denomination CDs with other banks. You no longer need to deal with managing multiple bank relationships just to get the advantages of FDIC coverage eligibility1Learn more…

Benefits of CDARS

  • Safety – Your money can access multi-million-dollar FDIC insurance coverage.
  • Convenience – You work directly with us. You earn one interest rate per maturity and receive one regular statement. Individual investors receive one year-end tax form.
  • Community Investment – The full amount of your deposit can support lending opportunities in your local community2.
  • CD-Level Rates – Your money earns CD-level returns which may compare favorably with other investment alternatives, including treasuries, corporate sweep accounts, and money market funds.

CDARS can be a valuable cash management or longer-term investment tool for you or your business.

  1. Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with Community Bank & Trust. The agreement contains important information and conditions regarding the placement of funds by us.
  2. When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors local investment goals or mandates. Alternatively, with a depositors consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.

    CDARS and the Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.

For more information on our Certificates of Deposit or CDARS program please call 218-485-4441 or stop by TODAY!