Municipal Services Available at Community National Bank, VT
Towns and school districts frequently need to borrow funds. Whether it be borrowing in anticipation of taxes, to purchase a piece of highway equipment or to make capital improvements, CNB works with municipalities to find the products and services to fit their needs.
- Tax/Revenue Anticipation
- Bond Anticipation
- Grant Anticipation
- Current Expense
- Capital Improvement
- Highway Equipment
- Lines of Credit
CNB offers competitive deposit rates to our towns and school districts through many types of deposit products.
An interest bearing deposit account that accompanies a Tax, Bond or Grant Anticipation Loan.
Government Agency Accounts:
An interest bearing account where balances in excess of FDIC insurance limits are fully collateralized at no cost to the municipality.
- No minimum balance to open or to maintain to avoid monthly service charge
- No per-item processing fees
- Free initial Check Order (up to $50.00 in value)
- Free Internet Banking
- Paper statement delivery option $6.50
- Electronic statement (e-statement) delivery option no charge
- Free Business Check Cards (available with unique user ID numbers and limits)
Money Market Accounts:
Limited transaction account with slightly higher rates than a typical money market account provided to our towns and school districts.
With Cash Management, business customers can originate ACH transactions such as payroll deposits and pre-authorized debit transactions, pay bills, transfer funds between CNB accounts, receive electronic notices and originate wire transfers.
SmartScan Remote Deposit:
CNB's SmartScan solution allows businesses to make deposits remotely by scanning checks at their business location. The scanned items are sent to the bank through a secure electronic transmission. The service includes a CNB SmartScan and on-site set up and training.