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Community First Bank: Community First Bank of Indiana offers the deposit and loan services of a national brand with the convenience and customer service of a local community bank. This article aims to give you details concerning checking accounts, savings accounts, online banking, as well as mobile banking and more…

Community First Bank of Indiana

At Community First Bank, they strive to bring you the best that banking can offer. They’ve been proudly serving the local communities of Indiana since 1997.

They provide all the perks of modern financial services with the reliability of the “hometown” banking our customers have come to expect. They take your banking seriously and as fellow members of your community know the importance of an efficient, welcoming, and accessible banking experience.

About Community First Bank of India

On February 3, 2003, Community First Bank of Indiana made history by opening the first new bank chartered in Howard County in over 55 years. In a span of fewer than 3 months from the date shares of bank stock became available for sale, CFB became operational raising 25% more capital than required by the Federal Deposit Insurance Corporation and the Indiana Department of Financial Institutions.

The success of the initial capital offering is attributed to the overwhelming support for the vision and creation of a new way to do banking in our community – a bank that is locally owned, locally governed and staffed with experienced bankers.

Community First Bank Indiana General Info for Savings Accounts

Variable Rate Information:

All interest-bearing checking and savings accounts earn a variable rate. At their discretion, your interest rate and annual percentage yield may change at any time.

Compounding and Crediting Frequency:

Checking and Health Savings Accounts-Interest will be compounded and credited every month. Savings-Interest will be compounded and credited every quarter.

Effect of Closing Account:

If you close your account before interest is credited, you will not receive the accrued interest.

Balance Computation Method:

They use the daily balance method to calculate interest; this method applies a daily periodic rate to the collected balance in the account each day.

Accrual of Interest on Noncash Deposits:

Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (i.e. checks).

Service Charges:

Service charges will apply to all checking accounts every month, savings every quarter if a minimum balance is not maintained or other required account stipulations are not met for each applicable account type.

Bonus:

Any promotion offered by Community First Bank will be reported on your statement and your year-end tax form.

Community First Bank of Indiana Regular Savings Account

(Interest Bearing)

  • Minimum Balance to Open: $25.00
  • Minimum Balance to Obtain Disclosed Annual Percentage Yield (APY): $25.00
  • Variable Rate Account
  • Fee if Excess Transfers Exceeded $1.00 per Withdrawal
    • Fee applicable if there is an excess of three withdrawals from this account (withdrawals, transfers, automatic payments, ATM, etc) in a quarter.
    • Transactions are limited by regulations. If transaction limits are exceeded, the customer may be required to change the account product.

Prepare for Holiday Expenses With A Christmas Club Account:

Let Community First Bank help make the holidays less stressful by opening a Christmas Club Account. Call your local CFB branch for more details.

Make Your Well-Being A Priority with A Health Savings Account:

Prioritize your health and set money aside for healthcare expenses with a Health Savings Account from CFB. Contact your local branch for further information.

Community First Bank of Indiana Info for Checking Accounts

Variable Rate Information:

All interest-bearing checking and savings accounts earn a variable rate. At their discretion, your interest rate and annual percentage yield may change at any time.

Compounding and Crediting Frequency:

Checking and Health Savings Accounts-Interest will be compounded and credited every month. Savings-Interest will be compounded and credited every quarter.

Effect of Closing Account:

If you close your account before interest is credited, you will not receive the accrued interest.

Balance Computation Method:

They use the daily balance method to calculate interest; this method applies a daily periodic rate to the collected balance in the account each day.

Accrual of Interest on Noncash Deposits:

Interest begins to accrue no later than the business day they receive credit for the deposit of noncash items (i.e. checks).

Service Charges:

Service charges will apply to all checking accounts every month, savings every quarter, if a minimum balance is not maintained or other required account stipulations are not met for each applicable account type.

Bonus:

Any promotion offered by Community First Bank will be reported on your statement and your year-end tax form.

Checking Accounts with Community First Bank of Indiana

Premier Checking (Interest Bearing)

  • Minimum Balance to Open: $100.00
  • Minimum Daily Balance to Avoid Monthly Service Charge: $1,500.00
  • Monthly Service Charge: $8.00
  • Minimum Daily Balance to Obtain Annual Percentage Yield: $0.00
  • Variable Rate Account
  • Unlimited Check-Writing Ability
  • Free CFB Personal Checks
  • Free Money Orders
  • Free 3×5 Safe Deposit Box, 30% Discount on Other Sizes, Subject to Availability
  • Money-Saving Benefits*:
    • Shopping and dining discounts from local and national retailers
    • Nationwide travel, hotel, recreation, and entertainment discounts
    • Savings on prescriptions, vision and hearing aids
  • Personal Protection Benefits*:
    • Cell phone protection
    • Roadside assistance
    • $2,500 personal identity theft benefit
    • Identity restoration
    • Payment card fraud resolution
    • $10,000 travel accidental death insurance

Deluxe Checking

  • Minimum Balance to Open: $100.00
  • Monthly Service Charge: $6.00
  • Unlimited Check-Writing Ability
  • One Free Box of CFB Personal Checks Per Calendar Year
  • Free Money Orders
  • Free 3×5 Safe Deposit Box, Subject to Availability
  • Money-Saving Benefits*:
    • Shopping and dining discounts from local and national retailers
    • Nationwide travel, hotel, recreation, and entertainment discounts
    • Savings on prescriptions, vision and hearing aids
  • Personal Protection Benefits*:
    • Cell phone protection
    • Roadside assistance
    • $2,500 personal identity theft benefit
    • Identity restoration
    • Payment card fraud resolution
    • $10,000 travel accidental death insurance

Basic Checking

  • Minimum Balance to Open: $100.00
  • Minimum Daily Balance to Avoid Monthly Service Charge: $100.00
  • Monthly Service Charge: $7.00
  • Unlimited Check-Writing Ability

Business Checking Account with Community First Bank of Indiana

Business Regular Checking

  • Minimum Balance to Open: $100.00
  • Minimum Balance to Avoid Service Charge: $500.00
  • Monthly Service Charge if Balance Falls Below Minimum: $5.00 + $0.05 per Debit Item
    • Service Charge Waived for Non-Profit Organizations

Business Analysis Checking

  • Minimum Balance to Open: $100.00
  • Monthly Service Charge Based on Account Analysis Pricing Below:
    • Debit Charges: $0.16
    • ACH Charges: $0.16
    • Deposits: $0.40
      • Foreign Items: $0.05
      • On Us Items: $0.15
    • Monthly Maintenance Fee: $1.00
    • Earnings Credit Allowance: 0.75%
      • Less 10% Reserve Required by Federal Reserve
      • Cap on Earnings Credit Allowance: 4.0%

Business Money Market (Interest Bearing)

  • Minimum Balance to Open: $100.00
  • Minimum Balance to Obtain Disclosed APY: $0.00
  • Variable Rate Account/Tiered
    • $.01-$2,499.99-current rate/APY for Regular NOW account , please inquire with CSR
    • $2,500.00-$9,999.99-current rate/APY, please inquire with CSR
    • $10,000.00-$24,999.99-current rate/APY, please inquire with CSR
    • $25,000.00-$49,999.99-current rate/APY, please inquire with CSR
    • $50,000.00-$89,999.99-current rate/APY, please inquire with CSR
    • $90,000.00 or greater-current rate/APY, please inquire with CSR
  • Service Charge if Excess Transfers Exceeded: $1.00 per Withdrawal
    • Fee applicable if there is an excess of six debit transactions (withdrawal, checks paid, automatic transfer or payment, debit card, etc.) during a statement cycle.
    • Transactions are limited by regulations. If transaction limits are exceeded, the customer may be required to change the account product.

Business Now Account (Interest Bearing)

  • Minimum Balance to Open: $100.00
  • Minimum Balance to Avoid Service Charge: $750.00
  • Minimum Balance to Obtain Disclosed APY: $0.00
  • Variable Rate Account
  • Monthly Service Charge if Balance Falls Below Minimum: $7.50



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