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Savings & CDs

All savings accounts include a variety of services that provide access to your funds and your account information.

Compare Accounts	Business Savings	Investment Savings	WooHoo! Savings	Certificates of Deposit
Minimum balance required	$50	$1,000	$5,000	$500.00
Interest	See Rates	See Rates	See Rates	See Rates
Highlights	Interest bearing Low minimum balance	Tiered interest rate	Tiered interest rate	Competitive rates
Qualifications	N/A	N/A	Must have an active checking account with the same ownership	$500.00 minimum deposit required $2,500.00 minimum deposit required for on Special CD's
More Info	More on Business Savings	More on Investment Savings	More on Woohoo! Savings	More on Certificates of Deposit

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To open a business savings - bring the following documents listed:

Form from the IRS with your business Employer Identification Number (EIN) or tax ID number (sole proprietors can use the owner's Social Security number if a EIN has not been obtained).
Articles of Incorporation, Articles of Organization, or a similar legal document that indicates when your company was formed and who is authorized to sign.
Minnesota Secretary of State Certificate.
A government issued photo ID and Social Security number for you and anyone else authorized to sign checks or make transactions on behalf of your organization.

We Know Ag

Yes, we serve all agricultural needs. So glad you asked! Whether you're in need of cash flow or lending, our team is happy to work with you.

Explore Ag Loans

More Information:

$3.00 per month processing fee will be imposed every statement cycle if the average ledger monthly balance for the statement cycle falls below $50.00. No interest earned on any day that the average collected balance falls below $100.00

More Information:

$10.00 per month processing fee will be imposed every statement cycle if the average ledger balance for the statement cycle falls below $1,000.00. You must maintain a minimum average collected balance of $1,000.00 to obtain the disclosed annual percentage yield.

More Information:

To receive the bonus rate simply do the following each qualification cycle:

Must have an active checking account at Citizens Bank Minnesota with the same ownership and same tax identification number as the WooHoo! Savings Account.

*0.10% Annual Percentage Yield (APY) - 0.10% interest rate - paid on balances between $.01 and $14,999.99, 0.20% APY - paid on balances from $15,000 up to $49,999.99, 0.30% APY - paid on balances from $50,000 up to $99,999.99 and 0.40% APY - paid on balances from $100,000 and up each qualification cycle the minimum requirements are met. If these monthly requirements per qualification cycle (which is the same as your statement cycle) are met, we will pay a bonus interest rate. If these requirements are not met, your WooHoo! Savings will convert to a Regular Savings Account and applicable fees will apply. A processing fee of $10.00 will be imposed every statement cycle if the average ledger balance for the statement cycle falls below $5,000.00. Rates as of 5-12-2021. $5,000 minimum balance is required to open this account. We may change the interest rate & APY on your account weekly. We use the average collected balance method to calculate the interest on your account and interest will be compounded and credited every statement cycle. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Fees could reduce earnings on the account.

More Information:

After certificate is issued, no additional deposits are allowed. Basis 365 days.

Penalty for early withdrawal is 12 months loss of interest, $25.00 minimum penalty.