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Lobby Closing

In response to the resurgence of COVID-19 cases in Steele County, Community Bank Owatonna will be closing our lobby to normal customer traffic effective Friday, November 27, 2020. Our drive-up will be open regular hours. The lobby will also be open 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.

Money Markets

Save More, Earn More

Money markets allow you to invest large balances at higher interest rates than a traditional savings account, and, unlike CDs, you can still access your funds at any time.

CBO offers tiers that provide increasingly high interest rates for higher balances.

Smart Rate Money Market Details

  • Minimum opening deposit: $25,000.00
  • Minimum balance: $25,000.00
  • Monthly minimum balance charge: $20.00 (if below required minimum)
  • Interesting bearing
  • Account statements: monthly
  • Withdrawals per month: 6
  • Free Online Banking

Smart Rate Money Market

Comparison table of Smart Rate Money Market
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 0.05% 0.05%
$25,000 $50,000.00 - $89,999.99 0.10% 0.10%
$25,000 $90,000.00 and above 0.25% 0.25%

Savings Calculator

Your Personal 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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