Central Federal offers you many options for putting away money on a regular basis.  The need for creating good financial habits seems more important than ever in today's economy to help you prepare for emergencies, all those little extras, and retirement.  Take advantage of automatic transfers from checking to savings,  online banking, and our savings calculators to help you plan.

Statement Savings

  • An interest bearing savings account that allows you to track your activity with a monthly statement.
  • You must maintain a minimum daily balance of $10.00 to obtain the disclosed annual percentage yield.
  • Interest paid quarterly.
  • Some limits apply to number and type of withdrawals.
  • A monthly service charge of $5.00 will be imposed if the account balance falls below $25.00 any day of the month.

Smart Start Club Account

  • This account allows our young account holders between the age of newborn to 18 to build up their savings account to $1,000.00 and earn a higher rate of interest.
  • When your balance reaches $1,000.01 it will revert to the then current statement savings rate.

We welcome you to bring in your young saver and get a “Smart Start” on saving money today.

Premier Club Account

  • It isn’t too early to start saving for Christmas, travel or just that special project.
  • You can designate a quarterly, semi annual or annual payment date that will coincide with your Christmas, vacation, insurance payment or other projects.
  • You deposit as you go and we will send you all but $10.00 of the money at the date or dates you have chosen.
  • By leaving the $10.00 you can then start making deposits to the same account for your next project.

Money Market Deposit Account

  • Is an interest bearing savings account that allows you access to the account with limited check writing.
  • The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on our Rate Chart.
  • You must maintain a minimum daily account balance of $250.00 to obtain the disclosed annual percentage yield.  
  • Certain types of transactions on this account are limited.
  • No monthly maintenance fee if the account balance is above $1,000.00. If the account balance falls below $1,000.00 any day in the statement period there is a $7.50 monthly service charge.
  • Check imaging statements are $3.00 per cycle.

Certificate of Deposits

  • You can start a Certificate with $500.00 or more.
  • Maturity frequencies of 31 days to 5 years or longer.
  • Is a fixed or variable rate instrument.

Individual Retirement Account

  • Are Certificates of Deposit that allow you to set aside savings to assist you with your financial needs at retirement.
  • You may select from most of the same terms as our regular Certificates.
  • Balance requirements may vary
  • You may be entitled to tax deferred savings, consult with your tax consultant to determine what is best for you.

Health Savings Account

  • Is an interest bearing account that is a tax-exempt trust account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse, and your dependents.
  • There is no monthly maintenance fee
  • To receive the disclosed annual percentage yield you must maintain a minimum average daily balance of $10.00.