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Individual Retirement Accounts

0.40% APY*
6 Months
0.55% APY*
12 Months
0.60% APY*
18 Months
0.80% APY*
24 Months
1.00% APY*
36 Months
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Take control of your financial future.

An Individual Retirement Account gives you a clear path towards retirement, including tax-advantaged savings to speed up the pace.  We offer both traditional and Roth IRAs with no setup fees, no maintenance fees and a low $5 minimum deposit to open.*

Traditional IRA

  • No income limits to open
  • 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 IRA

  • Income limits to be eligible to open Roth IRA
  • 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  • Principal contributions can be withdrawn without penalty**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
*Rate Information
  • APY = Annual Percentage Yield.
  • Fees may reduce earnings.
  • Rates subject to change.
**Contribution Limits and Taxes

$6000 contribution limits per year, with additional $1000 "catch-up" contributions allowed for ages 50+.

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

 

 

***Withdrawal Penalties
***Certain exemptions apply, such as healthcare, purchasing a first home, etc.

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