Individual Retirement Accounts (IRAs)

Rates

An IRA is your go-to fund for your future. Ensure it's one that keeps on giving — start now to really benefit from its unique tax advantages*.

Details
  • Funds can be used to purchase CDs within IRA at interest rates above standard savings
  • Tax-advantaged retirement savings*
  • Traditional and Roth IRAs available
  • No setup fees
  • No monthly or annual maintenance fees
  • A penalty may apply for early withdrawals
  • $500 minimum deposit to open IRA CD

Visit our Investment Planning Services page for more IRA account options.

*Consult a tax advisor.

Traditional vs. Roth

Traditional and Roth IRAs have distinct features and tax advantages*. Consult a tax advisor to help you pick the one that best fits your situation and retirement goals.

Traditional IRA

  • No income limits to open
  • No minimum contribution in any year
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70½

Roth IRA

  • Need to meet income limits to be eligible
  • 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  • Principal contributions can be withdrawn without penalty*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.