The best time to save for the future is now, in the present. Don’t pass up an opportunity to save with an IRA that offers significant tax advantages.* Get returns above standard savings and no setup fees.

Details
  • View Rates for this account
  • Save for retirement with tax advantages*
  • Earn competitive rates higher than regular savings
  • Pays monthly interest
  • Traditional or Roth IRAs available
  • Annual contribution limits apply*
  • $1,000 annual “catch up” contributions allowed for ages 50 and up
  • $20 annual service fee waived with checking account 
  • Funds can be used to purchase CDs within IRA
  • $500 minimum deposit to open CD**
  • $100 minimum deposit to open savings**
Traditional vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty*
  • Mandatory withdrawals at age 70 ½

Roth IRA

  • Prepare for qualified medical expenses
  • Income limits to be eligible to open Roth IRA*
  • Contributions are NOT tax deductible
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59 ½
  • Early withdrawals on interest subject to penalty*
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income 

Take charge of your future with an IRA!

*Consult a tax advisor.

**Savings balances less than $100 will be assessed a $3 monthly fee.  Rate may change after account is opened.