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Individual Retirement Accounts (IRAs)

PREPARE FOR YOUR DREAM RETIREMENT

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Put more toward your retirement with tax advantages*

  • Tax-deductible contributions
  • Tax-deferred earnings
  • Tax-free withdrawals

Ready to secure your financial future? It’s easy!

Retirement may seem like a lifetime away, but it’s never too early to invest in your future. Our individual retirement accounts make it easy to get started. Tax advantages* ensure you see as much of your paycheck as possible. Earn extra cash effortlessly with dividends above standard savings.

Benefits

  • Tax-advantaged* retirement savings
  • Competitive dividends above standard savings rates
  • No setup fees
  • No monthly or annual maintenance fees

Account Features

  • $5,500 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • $50 minimum deposit to open Share IRA
  • $1,000 minimum deposit to open Certificate IRA

For more information, view our Truth-in-Savings Disclosure and Rate Schedule.

*Consult a tax advisor

Traditional vs. Roth

We offer both traditional and Roth IRAs. Which is right for you? Compare them below and consult a tax advisor.

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 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  • Principal contributions can be withdrawn without penalty**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

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

***Certain exceptions apply, such as healthcare, purchasing first home, etc.