Deal Summary

5-year CD, 0.60% APY, minimum deposit $500, dividends paid upon maturity.

Central Bank’s Top CD Rates

Central Bank’s top CD rate is 0.60% APY. This rate is offered on the credit union’s 5-year CD with a minimum deposit of $500. The dividends earned on this CD are paid upon maturity.

The 4-year CD is a great alternative. The account offers an 0.40% APY with a $500 minimum deposit. This account also pays you your dividends upon maturity. You may also be interested in the 3-year CD which offers a 0.30% APY with a $500 minimum deposit as well.

For short-term investors the credit union offers a 7 to 31-day CD. This CD offers an annual percentage yield of 0.05%. This CD is also obtainable with a $20,000 minimum deposit. Again, this CD is paid upon maturity.

Central Bank offers nine CDs. Most of these CDs can be opened with a $500 minimum deposit. However, the shorer the period for the CD, the more the minimum deposit is. These CD terms vary from 7 days to 5-years. The APY starts at 0.05% and builds to 0.60%. Each of Central Bank’s CD accounts is subject to early withdrawal penalties.


In order to open up a CD account with Central Bank, you must already be a member of the bank. This means having a checking or savings account with them. If you don’t already however the process is rather simple and you can even do it online. You can also call the bank or meet them in perosn.

Branches in Kentucky

Berea, Lexington, Louisville, Crestview Hills, Georgetown, Nicholasville, Florence, Fort Mitchell, Newport, Winchester, Covington, Richmond, and Union.

Bank Overview

Central Bank was established in 1938. Since then, the bank has grown significantly and has established several locations all over Kentucky. They offer a variety of financial services including investment brokerage services, life, health, property and employee insurance benefit plans to personal and business clients, and more.

Central Bank’s employees are known for their exceptional customer service thanks to their 540 employees located all over the state. With over 100,000 customers, Central Bank is only getting bigger and bigger as time goes on.

Central Bank is also making sure that they stay up with the times by introducing mobile banking and making an app to make mobile banking that much easier for all of their customers.

The community involvement at Central Bank is unparalleled. In fact, Central Bank supports the John G. Irvin Gallery, which helps Kentucky artists get recognition. The gallery is named after a former employee of Central Bank, and continues to exhibit artwork from artists all over Kentucky, both young and old.

Central Bank is also involved with a lot of charities and non-profit organizations such as the American Cancer Society, American Red Cross, the Kentucky Chamber of Commerce, University of Kentucky Athletics, YMCA Black Achievers, YMCA Power Scholars Academy, University of Kentucky Healthcare, Lexington Public Library, Habitat for Humanity, Lexington Theatre, and more.