Individual Retirement Accounts (IRAs)

Take the simpler path to retirement with an IRA. Get a real start on your retirement plan, including competitive interest and tax-advantaged* options to keep you on track.

Make comfortable contributions each year. The sooner you get started, the more likely you can retire at a timely age. So open your IRA today and spend your retirement how you choose — rather than working well into your golden years.

Individual Retirement Account Details:

• Tax-advantaged* retirement savings
• Competitive interest above standard savings rates
• Traditional and Roth IRA options
• No setup fees

IRA Savings Account Details:

• Low $100 minimum deposit to open an IRA Savings
• Quarterly statement

IRA Certificate of Deposit Details:

• $1,000 minimum deposit to open a CD within IRA
• IRA CD terms available: 12,24,36,48, and 60 months

Check out our current rates.

*Consult a tax advisor.

What's the difference between a Traditional and Roth IRA? Compare Traditional vs. Roth IRAs below. Then consult a tax advisor to determine what type of IRA makes sense for you and your family.

Traditional IRAs:

• No income limits to contribute
• No minimum contribution in any year
• 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 59½
• Early withdrawals subject to penalty**
• Mandatory withdrawals at age 70½

Roth IRAs:

• Income limits to be eligible to contribute
• Contributions are NOT tax deductible
• Earnings are 100% tax-free at withdrawal*
• Principal contributions can be withdrawn without penalty*
• Withdrawals on interest can begin at age 59½
• Early withdrawals on interest subject to penalty**
• No mandatory distribution age
• No age limit on making contributions as long as you have earned income

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions may apply, such as healthcare, purchasing first home, etc.

Give the aspiring scholar in your life a head start, not a stack of student debt. A Coverdell Educational Savings Account (ESA) can help you cover the costs of your child's education — including tuition, room, board, books, and more. Plus, interest is tax-free when used to cover qualified educational expenses!

Coverdell Educational Savings Account Details:

• No setup or annual fee
• Interest grows tax-free
• Withdrawals are tax-free when used for qualified education expenses*
• Designated beneficiary must be under 18 when contributions are made
• To contribute to an ESA, certain income limits apply**
• Contributions are not tax deductible

*Qualified expenses include tuition and fees, books, supplies, board, etc.

**Consult a tax advisor.