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State Central Bank - Commercial Savings
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Savings and CDs 
Just like individuals, businesses need to think about saving extra money.  We hope that we have an account that will match your needs.   
 
Regular Savings Account-No minimum deposit required to open. 
  • Interest is paid on the daily average collected balance
  • No service charge when average collected daily balance is $50
  • May be accessed with an ATM card
  • Accessible with SHAZAM ChekCards linked to an SCB Checking account
  • Allows 12 withdrawals per calendar quarter at no charge (Certain limitations apply.)
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    Golden Passbook Account-An account that is more flexible than a certificate of deposit for short-term investment. 
  • Requires $2,500 to open and a $2,500 average collected daily balance
  • Earns a higher interest rate than the regular savings account
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    49er Christmas Club-a short term savings plan to offset holiday expenses 
  • For any budget-choose a $1, $2, $3, $5, $10 or $20 club
  • May arrange automatic payment from your checking or savings account
  • You make 49 payments, we make the 50th
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    49er Vacation Club-A short-term savings plan that helps you afford that well-deserved vacation. 
  • Choose the plan that fits your budget: $5, $10 and $20 clubs available.
  • Automatic payments can be made from your checking or savings account.
  • You make 49 payments, and State Central Bank makes the 50th.
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    Health Savings Account (HSA)-A tax-free savings account to pay for qualified medical bills 
  • Contributions are tax deductible
  • Earnings are tax free
  • Tax-free withdrawals for qualified medical expenses
  • Available to persons who meet the following criteria:
  •           o Covered by a high deductible health plan 
              o Are not enrolled in Medicare 
              o Are not claimed as a dependent on another's tax form 
     
    Certificates of Deposits 
     
    Regular CD-Select various CD maturities ranging from 91 days to 60 months 
  • Rates are competitive based on the current market
  • Minimum investment required
  • Guaranteed interest rate through out term of the certificate
  • Interest can be disbursed in one of three ways:
  •            1. As an interest check 
               2. Deposited into a checking or savings account 
               3. Added back semi-annuallyor quarterly (at maturity for a 91-day CD) 
     
    Budget Master CD-A 10 month CD requiring a $500 minimum deposit 
  • Interest is paid monthly into a checking or savings account
  • Guaranteed fixed interest rate throughout  term of certificate
  • Not renewable
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    Investment CD-A 12 month CD that works similar to a U.S. Treasury Bill 
  • Available only to Grand checking, Diamond Now checking, and qualified IRA customers
  • $20,000 minimum deposit
  • Higher interest rate than that of the Grand and Diamond Now accounts
  • FDIC insured
  • No penalty for early withdrawal after 6 months
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    Dow Jones Insured CD-Interest is tied to the performance of a group of 30 blue chip stocks (Dow Jones Industrial Average) 
  • Requires a minimum investment of $1,000
  • 5 year term
  • 100% Principal Guarantee, if held to maturity
  • FDIC insured
  • No customer fees
  • Early withdrawal options
  • Uncapped Returns: opportunity to achieve higher than fixed rate returns based upon the performance of the Dow Jones Industrial Average*
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    *Because of the numerous factors that may affect the value of the market index, no assurance can be given that holders of DJICDs will receive any interest.  The minimum interest earned is always zero. 
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