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Individual Retirement Accounts (IRAs)

Save for a Brighter Future Today

Your future is just as important as the here and now. A useful method for planning your retirement early is to open an IRA. An Individual Retirement Account (IRA) allows you to start saving for retirement with tax-advantaged benefits. Below, we have information on the differences between Traditional and Roth IRAs to help you choose the right IRA for your financial situation.

Traditional IRA

A Traditional IRA allows you to direct pre-tax income toward your contributions that can grow tax-deferred*.

Contribution may be tax deductible
Earnings grow tax deferred
You are required to start minimum distributions at age 73
Taxes apply when you take a distribution

Roth IRA

A Roth IRA allows you to set aside after-tax income up to a specified amount each year.*

Contributions are made with after-tax dollars
No mandatory distribution age
Earnings and withdrawals after age 59 ½ are tax-free

IRA CDs

An IRA CD allows you to invest IRA funds within certificates of deposit (CDs).*

Safe, low-risk investment
Flexible, short terms
Generates predictable short-term income

DISCLOSURES*

^*Consult your tax advisor.
Full Disclosure of our individual retirement accounts is available upon request.
Rates are subject to change. You may contact any branch location to obtain the most current rate and APY information. For variable rate accounts, rate may change after account opening. Minimum balance required to open/obtain APY. A penalty may be imposed for early withdrawal.