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Our Lobby is Temporarily Closed

Community Bank Owatonna's lobby is temporarily closed to regular customer traffic. Our drive-up is open regular hours. The lobby is accessable by appointment for access to safe deposit boxes and banking needs that cannot be accommodated via the drive-up or the CBO Digital Banking Suite. As required by MN Emergency Order 20-81, all individuals entering the lobby will be required to wear a mask.

We are Hiring!

We are hiring for a Part Time Personal Banker. Please see our Career page for more details. Careers

Business Money Market Savings

Happy Tiers

If you want to earn more with your business savings, consider a business money market account. Our money market savings accounts feature tiers that grant higher interest rates for higher balances. You’ll still have immediate access to your funds — up to four withdrawals a month.

  • Minimum opening deposit: $25,000.00
  • Minimum Balance: $25,000.00
  • Monthly Charge: $20.00 (if below required minimum)
  • Withdrawals: 4 per month
  • Interest bearing: Yes
  • Account Statement: Quarterly
  • Online Banking

Visit our office to open an account.


 

* APY = Annual Percentage Yield

Business Money Market Savings

Comparison table of Business Money Market Savings
Min. Opening Deposit Balance/Term Interest Rate APY*
$25,000 $0.01 - $24,999.99 0.03% 0.03%
$25,000 $25,000.00 - $49,999.99 0.04% 0.04%
$25,000 $50,000.00 and above 0.05% 0.05%

Savings Calculator

Your Business Banking Team

Shannon Rhoades
Shannon Rhoades Operations Supervisor About Me
Hope Allen
Hope Allen Personal Banker About Me
Roxanne Rezac
Roxanne Rezac Personal Banker About Me
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