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If there’s one thing we can be sure of in life, it’s change—and change that will undoubtedly affect your financial status. Over time, our lives evolve into different stages with varying levels of monetary demand and often with unexpected twists and turns that can derail the best of financial intentions. Alternatively, events may occur that enhance our financial position, and these need to be handled with knowledge and care, making the most of our long-term worth.

Central Bank understands the special considerations that need to be addressed throughout the different stages of our lives. Wherever you are on life’s journey— preparing for college, starting a career, raising a family or planning for retirement— we have the experience, personnel and products to guide you towards the attainment of your financial dreams and goals.

To take advantage of our specific products and programs, click below on the stage that’s right for you, and see how we can help you strengthen your financial position.



Managing the financial responsibilities of family life

By the time you have a family of your own, there will be accompanying expenses such as fees for various activities and lessons for your children, family vacations, saving for college educations or buying a new home. Throughout this time, you should regularly evaluate your progress towards achieving the financial goals you set earlier in your life and adjust your spending, budgeting and saving to make sure you stay on track. With all the demands a family places on your income, it is still important to build your long-term investments.

Planning and discipline that determines what and how you spend contributes to your future financial success. Here are some tips Central Bank recommends for sound financial management during this demanding time of your life.

1. Shop for the best mortgage and consumer loans – Seeking the best mortgage or consumer loan by shopping, comparing and negotiating may save you thousands of dollars.
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A mortgage—whether for a home purchase, refinancing or a home equity loan—is a product, just like a car, so terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage including interest rates, points, fees and down payment and private mortgage insurance requirements. Home equity loans and lines of credit can be helpful when extra cash is needed to reduce significant credit card debt—but be cautious about re-building credit card debt once it is paid.

With competitive rates, experienced lending professionals and local decision-making, you’ll be sure to find a loan at Central Bank that meets your needs. To apply for a mortgage or consumer loan now, click on the links below, or stop by and talk with one of our lending officers.

2. Understand your credit report – Your financial behavior over the past seven years, including how much credit you have, how long you've had it and whether you pay your bills on time is information included in your credit report.
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Three credit reporting agencies — Equifax, TransUnion and Experian — maintain these reports, and lenders buy them to help them decide whether to offer you a prequalification. Your credit report also carries your credit score ranked between 300 and 850 that many lenders use to decide whether you are creditworthy and will repay a loan. Your credit score can also influence the interest rate you pay. In many cases, the higher your score, the lower your interest rate.

Each agency allows consumers one free credit report a year. It is a good idea to check your credit report three times a year using a different agency each time. If you have any questions, you may call and speak with someone in the loan department. Contact us.

3. Start Saving for College – By starting early, when your child is in preschool or before, you can build a realistic fund through the power of compounding over many years. The earlier you start, the less you’ll have to save per month.
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Through Central Bank, you can access products designed to help you fund your child’s higher education. To learn more, or set up an educational account, click on the links below.

  • Certificates of Deposit – CDs start as low as $1000.00 with terms beginning at 6 months. Call our IRA specialist, Danny, today for more information.
  • US Government EE Savings Bonds – EE Bonds are reliable, low-risk government-backed savings products that you can use toward financing education and other special events. These are available through Central Bank. These are purchased at half of face value and can earn interested for up to 30 years.
  • US Government I Savings Bonds – I Bonds are also low-risk government-backed products that you can use to help finance your education. These are available through Central Bank. The customer pays face value for these and can earn interest for up to 20 years.

Parents may purchase bonds in their name and use those bonds for their children’s education. The perk; parents won’t have to pay tax when those bonds are cashed in if they can show the money was used for college expenses!

4. Conserve time, money and paper with Central Bank’s convenient checking accounts with online banking and bill pay and no-charge ATM services – You’ll reduce the time it takes to pay your bills and save on the expense of printed paper checks and postage while helping the environment as well.
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At Central Bank we are pleased to offer our checking account customers a special overdraft privilege called “Bounce Protection” (a $400 safety net just in case you need it). As always, we encourage you to manage your finances responsibly and start building a good credit reputation NOW. However, as long as you maintain your checking account in good standing, Bounce Protection provides you with a safety net (a $22 per item overdraft fee applies). See Overdraft Protection for details.

Central Bank Offers:

Complimentary Checking – No monthly fee, no minimum balance required, free ATM/Debit Card, online banking and more. $100 minimum to open this account.

Beyond Checking – For $9 per month, you get unlimited checks, a $10,000 Life Insurance plan, $25,000 IDENTITY THEFT insurance, as well as access to outstanding travel, vacation, medical, and shopping deals.

NOW Account – Interest bearing checking account with minimum to open $1000 ($8 monthly fee includes all the services of Performance Checking listed above). $12.50 monthly service charge if balance falls below $1000.

Priority Money Market – Interest bearing LIMITED checking account with minimum to open $5,000. Limited to six withdrawals per month in the form of checks and/or cash withdrawals (no more than 15 per quarter). For complete rules, please call a customer service representative.

5. Christmas Club – Help plan ahead for the holidays
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Help plan ahead for the holidays by opening an account that lets you deposit all year long yet discourages withdrawals until a designated date mid-November set by the bank each year. As a bonus, you earn interest on your contributions and have extra money already set aside to use for gifts, donations, ect! ($5 to open the account; $10 charge for withdrawals made before payout date)
6. Rent a Safe Deposit Box – This a convenient place to store important items that would be difficult or impossible to replace.
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Central Bank’s safe deposit boxes offer privacy and in most cases, greater security than keeping your valuables and important documents elsewhere. Additionally, some insurance companies charge lower insurance premiums on valuables kept in a bank's safe deposit box instead of at home. Come by and see one of our Customer Service Representatives for help and details.
7. Save for Retirement – Many people underestimate the amount of money they’ll need in retirement.
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Be realistic about major expenditures, e.g., will your mortgage be paid off by retirement? If so, you may need less income than you do now. Do you plan to buy a vacation home or travel extensively? Will you have to pay for your own health insurance? These and other financial considerations all come into play.

Traditional IRA – Tax deductible contributions to a traditional IRA can help you build long term wealth and help you reach your retirement goals. Call our IRA specialist, Danny, today for more information.

Roth IRA – Contributions to this type of retirement account are not tax deductible, however, when you retire, distributions are tax free. For more details call our IRA specialist, Danny.

A visit with your tax professional may also help you decide which IRA product would be most suitable for your current financial situation.

Central Bank Investment Services – 
See "Investment Services" tab for more investment information.


  • Make sure your mortgage payment, including taxes and insurance, represents no more than 20 percent of your gross monthly income.
  • Review the cost of your health care insurance and make sure you are getting adequate coverage at the best price. 
  • Make wise purchasing decisions by determining  what you “need” compared to what you “want.”  This will help you make ongoing  decisions to keep your finances in check.

For help determining the best accounts and products for sound and productive money management during your Active Families Lifestage, please contact us at 731-925-9046 or