SAVINGS & SHORT-TERM INVESTMENTS

Savings accounts allow the account holders access to their funds at any time. They are able to transfer money easily to and from their checking accounts through our mobile banking, online banking and telephone banking services or by visiting a branch location. Interest income is earned on savings account balances. Savings accounts are limited in the number of transactions allowed during each statement cycle.

*Other restrictions may apply.

Money market accounts allow account holders access to their funds at any time. They are able to transfer money easily to and from their checking accounts through our mobile banking, online banking and telephone banking services or by visiting a branch location. Interest income is earned on money market account balances. Account holders can write a limited number of checks each month from this account. Typically money market accounts require a higher minimum balance than a savings account; however, they also generally have a higher yield on interest.

*Other restrictions may apply.

WHAT ARE SHORT-TERM INVESTMENTS AND ARE THEY RIGHT FOR YOU?

 

When most people think about investments, they normally think of things like the stock market, mutual funds and bonds. These forms of investments are great options for the long term, but what happens when you want to invest your money but don’t want to be tied down to a long-term commitment? What short-term investment options are available and which ones are right for you?

 

Short-term investment options include savings accounts, money market accounts and certificates of deposit.

All of these options are available for you here at CNB.

 

Most people take advantage of short-term investments because they need some financial liquidity but still want some gain on their money. Perhaps you are planning a purchase in the near future, like a car or a down payment on a house. It might be wise to put your money in a short-term investment such as a savings account, money market account or CD in order to gain some interest income while still being in a position to easily access that money if necessary.

 

 

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