Individual Retirement Accounts (IRAs)

Plan for the future with an IRA and relax knowing your money will help you build a better tomorrow!

IRA Features:

$500 minimum deposit to open
No setup fees
No monthly or annual maintenance fees
Long and short term options

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 lower in tax bracket)
Withdrawals can begin at age 59 ½
Early withdrawals subject to penalty**
Mandatory withdrawals at age 70 ½

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Principal contributions can be withdrawn without penalty*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 begin at age 59 ½
Early withdrawals 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 apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor

Account openings are subject to Bank approval. We may change the interest rate on your account at any time and without prior notice after the account is opened.

Individual Retirement Accounts (IRAs)

How Can We Help You?

Individual Retirement Accounts (IRAs)

Plan for the future with an IRA and relax knowing your money will help you build a better tomorrow!

IRA Features:

$500 minimum deposit to open

No setup fees

No monthly or annual maintenance fees

Long and short term options

Traditional IRA

Roth IRA

Online Banking