Saving can be challenging. But it doesn’t have to be! Here at Cleveland State Bank, we empower you to fuel your dreams and reach your goals while maintaining financial security. When you bank with us, you can tap into expert guidance, tools, and support to chart your course toward a secure financial future.
Here are a few ways that we can help you reach your truest potential.
Certificate of Deposit (CD)
Don’t just let money lie dormant in your checking account. Instead, save your cash in a certificate of deposit (CD). FDIC-insured CD accounts are both simple and safe, and they allow your money to grow at a fixed interest rate for a fixed period of time.
This can be a great way to grow your savings over the short term, but it can also be a vehicle for long-term savings. At the very least, a CD offers a better interest rate than a traditional checking or savings account, making it a reliable way to build wealth.
Money Market Accounts (MMAs)
A money market account (MMA) can be a flexible alternative to a certificate of deposit since an MMA will grant you the ability to use debit cards and checks. But as the name suggests, an MMA will provide a higher interest rate than a typical savings account, making this another option for growing your savings with us.
While money market accounts don’t offer the kind of interest rate of a CD, it’s perfect for those who need to access their savings without the fixed timeframe of a CD account.
Traditional and Roth IRAs
It’s never too early — or too late — to plan for your retirement. Most Americans find that their employer’s 401(k) plan isn’t enough to help them reach their retirement dreams. That’s why it’s important to supplement these savings with an individual retirement account (IRA).
We offer traditional and Roth IRA accounts. A traditional IRA allows you to make tax-free contributions, while future withdrawals will be taxed as regular income. A Roth IRA is essentially the reverse, allowing you to contribute after-tax income and then enjoy tax-free withdrawals at retirement.
Retirement Planning
The retirement planning process can be confusing — and intimidating. That’s why CSB connects you with the skilled guidance of a retirement and investment planning team from FMS Financial Services. With the proper support, you’ll learn more about saving for retirement, managing your wealth, and even planning your estate. Most importantly, an investment planning team can show you ways to diversify your investments, allowing you to build wealth while navigating the risks of the investment market.
Start Saving Today
Since 1907, Cleveland State Bank has proudly offered services focusing on our local community while providing the same quality you’d find at a major bank.
Learn more about how to fuel your dreams and boost your savings with a CD or IRA by contacting our banking professionals.
