CD Rates

Invest Today For The Future

Certificates of Deposit (CDs) offer competitive returns on FDIC-insured savings. They are a great choice if you have a time-specific savings need or if you just want to diversify overall risk in your portfolio.

ICS & CDARS

PEACE OF MIND, FLEXIBILITY, AND RETURNS

With the Insured Cash Sweep®, or ICS®, service and the CDARS® service, you can enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance and can choose the service or combination of services that best meets your needs for returns and access to funds. 

Protecting your deposits while earning a return - now that's smart.

Why ICS and CDARS?

Earn Interest - ICS and CDARS enable you to earn a return, while keeping your deposits safe. Depending on your needs, you can use ICS, CDARS, or both.

Save Time - Work directly with just us - a bank you know and trust - to access multi-million-dollar FDIC insurance, and forego the need to use repo seeps or to track collateral on an ongoing basis.

Support Your Community - Feel good knowing the full amount of your funds placed through ICS and/or CDARS can stay local to support lending opportunities that build stronger communities.1

[1] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Promontory Network, a bank can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, and if authorized under state law, a bank may choose to receive fee income instead of deposits from the banks. Under these circumstances, deposited funds would not be available for local lending.

How does ICS and CDARS work?

By working directly with just us - a bank you already know and trust - you can receive coverage through many.

Financial institutions that offer Insured Cash Sweep and/or CDARS are members of the ICS Network and/or the CDARS Network. When you place a large deposit with us using the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 and is placed in deposit accounts at other Network banks. Funds are placed into demand deposit accounts at other Network banks. Funds are placed into demand deposit accounts (using the ICS demand option), money market deposit accounts (using the ICS savings option), or into CDs using CDARS. By placing your funds in increments below the standard FDIC insurance maximum $250,000, both principal and interest are eligible for FDIC insurance. 

Although funds are placed with multiple banks, you work directly with just us and receive just one regular statement per service utilized. 

To learn more, contact us at (573) 775-2151 or info@fcnb.com.

Frequently Asked Questions

What can ICS® and CDARS® do for me?

ICS and CDARS offer a smart, secure, and convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility. With the ICS and CDARS services, you can:

• Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.

•  Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option, money market deposit accounts using the ICS savings option, and/or interest-bearing certificates of deposit (CDs) using CDARS. Earn one rate on your ICS savings deposits, one rate on your ICS demand deposits, and one rate per maturity for your CDARS deposits.

• Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement for each service from us summarizing your account activity and balances. And, if you are accustomed to collateral, reduce the need to track collateral on an ongoing basis.

How can deposits greater than the standard FDIC insurance maximum be eligible for insurance by the FDIC?

The FDIC insures up to $250,000 of a customer’s deposit accounts in a given insurable capacity at an FDIC-insured depository institution. Institutions, like ours, that offer ICS and/or CDARS are members of a special Network. When we place your deposit through the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 and is placed in demand deposit accounts (using the ICS demand option), money market deposit accounts (using the ICS savings option), or CDs (using CDARS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one.

How often can I access my funds?

You can make unlimited program withdrawals using the ICS demand option and up to six program withdrawals per month using the ICS savings option. With CDARS, select from a range of maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).

Who has custody of my funds?

Funds placed through ICS and/or CDARS are deposited only in FDIC-insured banks. We act as custodian for your ICS deposits, and the subcustodian for ICS and CDARS deposits is the Bank of New York Mellon (BNY Mellon), the largest custodian in the world.2

Who provides the additional FDIC insurance when my funds are placed using ICS and/or CDARS?

Through ICS and CDARS, funds are placed with other Network members, and those Network members provide you with access to the additional FDIC insurance coverage. Working directly with just our bank, you can access coverage through many.

Is my account information safe?

You work directly with just us—the bank you know and trust. As always, your confidential information remains protected.

[2] Please see www.bnymellon.com/about/index.html for details.

First Community National Bank, Member FDIC. Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.

© 2017 Promontory Interfinancial Network, LLC

CD Special

$5,000 minimum deposit required. Interest compounded quarterly.  Substantial penalty for early withdrawal. Fees may reduce earnings. Must have an account with FCNB that has an automatic deposit. Interest must be added back to the CD or credited to a checking or savings account with FCNB. Rate effective January 9, 2018. Rates subject to change. 

Current CD Rates

As of January 9, 2018:

Term $10,000 & Above
30 Days  0.15% APY
45 Days  0.18% APY
3 Month  0.20% APY
6 Month  0.35% APY
12 Month  0.45% APY
24 Month  0.65% APY
36 Month  0.85% APY
48 Month  1.15% APY
60 Month  1.40% APY
Term $1,000.00 to $9,999.99
12 Month  0.10% APY

 

  

 

 

 

 

 

 

 

 

 

 

 

APY = Annual Percentage Yield. Substantial penalty for early withdrawal. Fees may reduce earnings. Rates subject to change.

First Savers CD

  • Perfect for the beginning saver
  • $500.00 minimum opening balance
  • 12 month term
  • $100.00 minimum required for add-on
  • Substantial penalty for early withdrawal
  • Fees may reduce earnings
  • For rate information, reference the 12 month CD rate under the Current CD Rates