Community Bank was established in 1994 when a group of local business people purchased El Pueblo State Bank in Espanola.  El Pueblo State Bank had been chartered in New Mexico since 1973.  The first official “Community Bank” offices opened in 1995.  In 1999, bank offices were added in Albuquerque, Los Alamos, and at the Wal-Mart in Espanola.  The bank now has a total of five bank branches in Santa Fe, Los Alamos, Espanola, Tierra Amarilla and Albuquerque.

The bank has interest bearing savings account  for individuals that have a minimum deposit $100.00 and incurs a quarterly service charge if balance drops below $200.00 and has a limit of 9 withdraws per quarter with no transaction fee.

The bank also has a money market account that bears interest at tiered rates.  The money market account has a $2,500.00 minimum balance, a minimum balance service charge if balance drops below $2,500.00 and a limit of 6 debits per month.

The bank offers both basic checking and interest bearing checking accounts.   Both of these accounts have unlimited check writing.  The basic checkng account minimum deposit is $100.00, the interest bearing checking account minimum is $700.00.  The interest bearing checking account earns a variable interest rate.

The bank certificate of deposits offer rates that are fixed for the term of the certificate of deposit, minimum deposits of only $500.00, interest compounded monthly, 90 day CDs that has interest compounded at maturity and the ubiquitous early withdrawal penalty.

Current CD rates.

90 day CD has an interest rate of 1.33% APY.
6 month CD with an interest rate of 1.67% APY.
One year CD that yields a rate of 1.85% APY.
18 month CD that also yields a rate of 1.85% APY.
Two year CD which earns an interest rate of 2.01% APY.
Three year CD that alo has an interest rate of 2.01% APY.

Bank CD rates are subject to change without notice.  Additional conditions may apply to open the bank CD accounts.  Current CD rate information can be obtained by calling the bank direct at 800-986-2252.  The bank web site can be found at www.communitybanknm.com.

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