Elk State Bank offers Certificates of Deposit (CDs) ranging from 91 days to five years at competitive interest rates. CD's require a minimum deposit of $1,000. Interest is compounded or paid either quarterly or at maturity depending on the length of the CD. As with other Elk State Bank deposit products, our CDs are insured by the Federal Deposit Insurance Corporation (FDIC).
We are members of the Promontory Interfinancial Network, specifically Certificate of Deposit Account Registry Service (CDARS) and Insured Cash Sweep (ICS) which breaks up large deposits to amounts below the maximum FDIC insured limit and places them across a network of banks and savings institutions. Everything is handled through our bank, yet your deposits are safe and FDIC insured through others.
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