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Certificates of DepositCertificate of Deposit

Short and Long Term Certificates of Deposit

Safety, security and simplicity reign supreme with these popular fixed rate investment vehicles. Certificates of Deposit take a set dollar amount that you specify and depending on how long you select, we will guarantee to pay you a certain rate the entire time selected. This rate will be disclosed to you at the time of your deposit. Our Certificates of Deposit have long been known to offer you some of the most competitive rates in the area as well as the security of knowing your deposit is insured by The Federal Deposit Insurance Corporation. Sorry, as a policy we do not match rates from other banks, however, we have found over the years it is our rates that are being matched at other institutions. If you’re looking for a fair rate, and fair renewal rates, look no further than First National Bank of McHenry. We offer a variety of terms – anywhere from 3 months to 5 years.

Available Options

Depending on the term of your certificate, interest accrues daily and is paid quarterly by either deposit back into the certificate or directly deposited to another account with us. Be sure to check on the current link for up-to-date rate information.

 Investmant Rates Button

All certificates are opened as automatically renewable, which affords you the flexibility of ten grace days (one grace day if the term is less than 31 days) after your initial term to make deposits, withdrawals, or make other changes to the certificate.

Whatever your financial objectives are, long or short term, be sure to check with one of our customer service representatives during regular lobby hours at any one of our locations so we can help you select the best certificate to meet your needs.

Individual Retirement AccountsIRA

IRAs can be very complicated financial instruments. The following information is intended to make you aware of products The First National Bank of McHenry offers as part of its retirement planning package. All IRAs are placed in Certificates of Deposit with the same flexible maturity terms. Specific advice in regards to your personal situation should be directed to a competent tax advisor who is aware of your entire financial portfolio.

Traditional IRA

It’s never too early to be thinking about retirement. With a First National Bank of McHenry Traditional IRA, the framework for a happy retirement can be laid out today. With both the safety and security of the FDIC and the variety of terms offered, retirement planning is convenient and simple with First National Bank of McHenry. Depending on your income level and whether you are an active participant in another retirement plan, your contribution may be fully or partially tax deductible. Funds deposited into Traditional IRAs accumulate until you are ready for distribution. Appropriate income tax must then be paid on the amount distributed.

Roth IRA

The Roth IRA offers a remarkable benefit not allowed on any retirement account before: totally tax-free growth. Unlike traditional IRAs and other qualified retirement plans that are only “tax deferred” (they grow tax free but you eventually pay taxes on your accumulated earnings at retirement), the Roth IRA is the first retirement account that is totally tax-free. This means you never have to pay taxes on your growth, before or after retirement. (As long as you are 59 ½ years old and have held the account for at least 5 years. There is a 10% penalty tax on withdrawals before 59 ½, unless an exception applies.) As with all First National Bank of McHenry investment products, funds held in your Roth IRA are FDIC insured. Contributions to a Roth IRA are not tax deductible - but are available to many people – including high income individuals.