CVS (assuming we are talking about "Concurrent Versions System") is open-source, and as such is free to use by anyone. "Subversion" is another open-source option that is newer and gaining in popularity.
"Please give us a simple answer, so that we don't have to think, because if we think, we might find answers that don't fit the way we want the world to be."
~ Terry Pratchett in Nation
I don't know of any online CVS/Subversion services that are free (assuming that's what you mean by "service"?), except for those that offer "personal" or "basic" plans with a limited amount of data and number of users. Depending on how small your "small team" is and the expected project size, maybe one of those would work.
Search for things like "cvs server", "subversion hosting", etc. and you should find a number of things to compare.
"Please give us a simple answer, so that we don't have to think, because if we think, we might find answers that don't fit the way we want the world to be."
~ Terry Pratchett in Nation
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