Competitive Interest
Tax Advantages
No Setup Fees
No Maintenance Fees
INDIVIDUAL RETIREMENT ACCOUNT (IRA)
Be old enough to retire, but young enough to enjoy it.
It's never too early to start securing your retirement. We offer a few different savings options in order to best fit your personal savings goals.
If saving for the future is important to you, we've got you covered. We offer both Roth and Traditional options for IRAs - each with their own advantages. Our team would be more than happy to discuss the differences and guide you to making a well-informed decision.
No annual fees or setup fees
Federally insured
$1000 minimum deposit to open
Save for retirement with special tax advantages*
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Traditional and Roth IRA options available
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Earn competitive interest at a higher rate than a regular savings
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Annual contribution limits apply (see current contribution limits)
Benefits of Individual Retirement Accounts
* Consult your tax advisor to discuss your individual tax situation
Traditional IRA
No income limits to open
No minimum contribution requirement
Contributions are tax deductible on state and federal income tax*
Earning are tax deferred until withdrawal (when usually in a lower tax bracket)
Withdrawals can begin at age 59 1/2
Early withdrawals are subject to penalty
Mandatory withdrawals begin at age 72
Roth IRA
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Income limits to be eligible to open Roth IRA*
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Contributions are NOT tax deductible
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Earnings are 100% tax free at withdrawal*
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Principal contributions can be withdrawn without penalty*
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Withdrawals on interest can begin at age 59 1/2
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Early withdrawals on interest subject to penalty
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No mandatory distribution age
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No age limit on making contributions as long as you have earned income
Traditional IRA vs. Roth IRA
* Consult your tax advisor to discuss your individual tax situation
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.