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Open a Regular Savings Account online in minutes – it’s simple and secure. Current Digital Banking users can easily add a new account by logging in and choosing the “+”.
Opening a savings account is the first step towards building emergency funds or saving for a specific goal.
* To avoid the monthly service fee, maintain a minimum daily balance of $250 (Under age 18 and over age 60 exempt from this service fee).
**Message and data rates may apply. Citizens Bank of WV does not charge fees to download or use the Mobile Banking app, Mobile Web, or Text Banking. Your mobile carrier may charge for data and text message usage. Check with your carrier for more information
***There is a $2 per transaction fee for each withdrawal in excess of 3 per month. Limited items include transfers by telephone, computer, ACH, wire transfer, or any pre-authorized or automatic transfers.
Small amounts saved regularly add up to a sizeable sum:
Just choose the amount you’d like to save each week and watch it grow in time for the holidays. Interest earned on the account is not included in the example below. Your account after 50 weeks would be more once the interest is posted.
Example: 50 weeks of deposits
Certificate of Deposits (CDs) are a safe and secure way to earn higher interest for a fixed period of time.
Give your children a head start on a lifetime of good savings habits with our Supersavers Kids CD.
The Traditional IRA allows you to make contributions to your account with pretax dollars. You can use this IRA to lower your taxable income, and thus lower the amount you have to pay in taxes.
Withdrawals can be made without restrictions upon age 59-1/2 or for qualified educational expenses, qualified medical expenses, disability, first time home purchase (up to $10,000), health insurance premiums while unemployed for 12 weeks or longer, covering the cost of childbirth or adoption expenses (up to $5,000), or for payment to beneficiaries at owner’s death. Required Minimum Distribution withdrawals must be taken annually starting at age 70-1/2 (age 72 for individuals who attain the age of 70-1/2 after Dec. 31. 2019) to avoid penalty.
Annual Contribution Limits
no | Under age 50 | Age 50 and over* |
|---|---|---|
| 2024 | $7,000 | $8,000* |
*Catch-up contribution eligibility begins on January 1 of the calendar year of contributor’s fiftieth birthday.
Roth IRA contributions are made with after-tax dollars, which means it does not lower your taxable income. The advantage is that your earnings grow tax-free, and your withdrawals are made tax-free. Plus, you won’t have to pay taxes on this money when you retire.
May be opened as a certificate of deposit or savings account with various terms and options available
no | Under age 50 | Age 50 and over* |
|---|---|---|
| 2024 | $7,000 | $8,000* |
*Catch-up contribution eligibility begins on January 1 of the calendar year of contributor’s fiftieth birthday.
A Simplified Employee Pension (SEP) Plan is a retirement plan established by employers, including self-employed individuals (sole proprietorships or partnerships) whereby employers may make tax-deductible contributions on behalf of eligible employees. Employers are allowed a tax deduction for plan contributions. Employees do not pay taxes on SEP contributions, but these contributions are taxed when the employees receive a distribution from the IRA. SEP plans require establishing a Traditional IRA to which the employer will deposit SEP contributions. Once deposited, SEP contributions become Traditional IRA assets and are subject to many of the IRA rules, including the following:
Annual Contribution Limits
2024 – $69,000
A Coverdell Education Savings Account is a great way for adults to save for a child’s education.
Annual Contribution Limits
$2,000 for each child under 18
| Term | Compounding | Interest Rate | APY | Opening Deposit |
|---|---|---|---|---|
| 7-90 Day | At Maturity | 0.20% | 0.20% | $500 |
| 3 Months | At Maturity | 020% | 0.20% | $500 |
| 6 Months | At Maturity | 0.25% | 0.25% | $500 |
| 12 Months | Quarterly | 0.30% | 0.30% | $500 |
| 18 Months | Quarterly | 0.35% | 0.35% | $500 |
| 24 Months | Quarterly | 0.45% | 0.45% | $500 |
| 30 Months | Quarterly | 0.50% | 0.50% | $500 |
| 36 Months | Quarterly | 0.55% | 0.55% | $500 |
| 48 Months | Quarterly | 0.70% | 0.70% | $500 |
| 60 Months | Quarterly | 1.00% | 1.00% | $500 |
| 4-Month Special 1 | Quarterly | 4.43% | 4.50% | $10,000.00 |
| 15-Month Special 2 | Quarterly | 4.18% | 4.25% | $10,000.00 |
Deposit Rates effective as of November 12, 2024.
Deposits of $500 or more may be added to an IRA certificate of deposit at any time. IRA deposits are subject to rules for IRA accounts. Certificates of Deposit will automatically renew at maturity. Rates are subject to change. The Annual Percentage Yield (APY) assumes interest will remain on deposit until maturity. Withdrawals, fees and other conditions could reduce earnings. A penalty may be imposed for early withdrawal.
1 Interest rate of 4.43% and Annual Percentage Yield of 4.50% on a 4-month Certificate of Deposit accurate as of November 12, 2024 and is subject to discontinuation or change without notice. Minimum balance to open a CD and earn stated APY is $10,000. Penalties may be imposed for early withdrawal. At maturity, the 4-month CD will renew to a 6-month CD, at the rate we are paying on the date of maturity for a 6-month CD. Other terms and conditions may apply.
2 Interest rate of 4.18% and Annual Percentage Yield of 4.25% on a 15-month Certificate of Deposit accurate as of November 12, 2024 and is subject to discontinuation or change without notice. Minimum balance to open a CD and earn stated APY is $10,000. Penalties may be imposed for early withdrawal. At maturity, the 15 month CD will renew to a 12 month CD, at the rate we are paying on the date of maturity for a 12 month CD. Other terms and conditions may apply.
