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IRAs

Get on the Road to Retirement Goals

Open an Individual Retirement Account with several tax-deductible options that can help you achieve your retirement goals, faster.

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Types of IRAs

Traditional

A traditional IRA is a savings account which allows you to defer taxes on your deposits until you withdraw at retirement (age 70½). Open a traditional IRA for as little as $50.

Information Resources
pdf icon Traditional IRAs - View PDF
pdf icon IRA Eligibility – View PDF

Roth IRA

A Roth IRA is a savings account; taxes are non-deductible and paid in the year earned. At retirement, withdrawals are tax-free. There is no requirement to begin withdrawals at age 70½.

Information Resources
pdf icon Roth IRA – View PDF
pdf icon IRA Eligibility – View PDF
pdf icon Moving to a Roth IRA - View PDF

Coverdell (Educational)

With a Coverdell IRA, parents can save for education expenses. Contributions are non-deductible; the withdrawals are tax-free and can be taken at any time.

Information Resources
pdf icon Coverdell Q & A - PDF

IRA Certificates

An IRA Certificate earns higher dividends and is available for as little as $1,000.

More Resources:

Exploring Your IRA Options - PDF Growing your Savings - PDF Rolling your way to a better retirement - PDF

Consult with your tax advisor for further information. Dividends calculated on daily balance and paid monthly. Early withdrawals are subject to penalty.

Frequently Asked Questions:

 

Savings

We do not offer ATM cards; however, we can open a Checking account with a debit card providing ATM access to both Savings and Checking accounts.

Yes. These payments (which you might know as “ACH” or “EFT” transactions) follow Regulation D limitations. Any withdrawals attempted beyond your monthly limit will not be honored, and you will receive a notice by mail and incur a nonsufficient funds charge. To avoid this situation, make automatic payments using a checking account. Contact the merchant to arrange this change and be aware that your request could take more than a month to go into effect. Alternatively, consider using Bill Payment in Online Banking to automatically send payments to the merchant, rather than authorizing the merchant to automatically withdraw payments.

No. There Is no fee to join!

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