Procrastination doesn’t pay. Start your retirement fund today to enjoy competitive interest and tax advantages*.
- Competitive Interest
- No Setup or Maintenance Fees
- Tax Advantages*
- Competitive interest above standard savings rates
- Traditional and Roth IRA options
- No setup fees
- No monthly or annual maintenance fees
- $6,000 contribution limit per year
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Funds can be used to purchase CDs within IRA
- $1,000 minimum deposit to open
- 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 in lower tax bracket)
- Withdrawals can begin at age 59 ½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70 ½
- 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- Principal contributions can be withdrawn without penalty*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 59 ½
- Early withdrawals on interest 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.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.
*Consult a tax advisor.
For completed information for current rates, terms and conditions please visit one of our branch locations. A penalty is imposed for early withdrawal. / Must be 18 years old to apply/ Contribution amount increased to $6000.