Certificates of Deposit

Guaranteed rates for terms ranging from 30 days to five years. Interest can be added to the balance of your CD, credited to your savings or checking account, or mailed to you in the form of an interest check. The minimum deposit to open a CD is $500.

Special Note:

There are minimum balance requirements that must be met to have interest compounded, receive checks, etc. An interest penalty may be imposed for early withdrawal.

For current Certificate of Deposit rates please contact Community State Bank (262) 878-3763.

IRA Savings Accounts

We understand the importance of security in your retirement years and we want to help make those years financially worry free. That is why we offer many types of Individual Retirement Accounts (IRAs) to help you save for your retirement.

These plans offer different Tax advantages including Tax-Deferred and even TAX-FREE earnings. Contact us for free brochures on any of the above types of IRAs or contact Community State Bank at (262) 878-3763.

Traditional IRA

A traditional IRA is any IRA that is not a Roth IRA, a SIMPLE IRA, or a Coverdell Education Savings Account. This was the original IRA. Two advantages of a traditional IRA are that you may be able to deduct some or all of your contributions to it, depending on your circumstances, and, generally, amounts in your IRA, including earnings and gains, are not taxed until they are distributed.

Roth IRA

Unlike a traditional IRA, you cannot deduct contributions to a Roth IRA. But, if you satisfy the requirements, qualified distributions are tax free. Contributions can be made to your Roth IRA after you reach age 70 1/2 and you can leave amounts in your Roth IRA as long as you live. To be a Roth IRA, the account must be designated as such when it is set up. Neither a SEP-IRA nor a SIMPLE IRA can be designated as a Roth IRA.

CESA - Coverdell Education Savings Account

The Coverdell Educational Savings Account, formerly the Education IRA, is not really an IRA at all. It was created as part of the Taxpayer Relief Act of 1997 to help families save for their children's college. Distributions from the IRA are tax-free and penalty-free for qualified higher education expenses. The ESA allows annual aggregate contributions of $2,000 per child.


A simplified employee pension (SEP) is a written arrangement (a plan) that allows an employer to make deductible contributions for the benefit of participating employees. The contributions are made to traditional individual retirement arrangements (IRAs) set up for participants in the plan.

Self-employed individuals, as well as other employers, can set up simplified employee pension (SEP) plans. A SEP plan allows an employer to make contributions toward employees' retirement, and, if self-employed, his or her own retirement, without becoming involved in more complex retirement plans.

A self-employed individual is an employee for SEP purposes. He or she is also the employer. Even if the self-employed individual is the only qualifying employee, he or she can have a SEP-IRA.

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