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Individual Retirement Accounts
Secure Your Future With An IRA

 

You may be able to save on your present taxes with an Individual Retirement Account, by deducting your qualified contributions from your taxable income. The deductible amount depends on your income, marital status and if you are an active participant in an employer sponsored plan as defined by the Internal Revenue Service.

With an Individual Retirement Account, you may also be able defer taxes until retirement when you will probably be in a lower tax bracket.

IRA Tax Savings Potential Chart:

 
Tax Bracket Savings
IRA Deductible
Contribution Amount
15%
28%
31%
36%
39.6%
$    500
$   75
$    140
$    155
$    180
$    198
$ 1,000
$ 150
$    280
$    310
$    360
$    396
$ 2,000
$ 300
$    560
$    620
$    720
$    792
$ 2,250
$ 337
$    630
$    697
$    810
$    891
$ 4,000
$ 600
$ 1,120
$ 1,240
$ 1,440
$ 1,584

This chart illustrates how much you may be able save each year.

Please consult your tax advisor to review the tax deductible status of an IRA. Regardless of the amount you save now on taxes, an IRA is a smart way for you to save for a secure retirement.

 

If you are changing employers, an IRA Rollover makes sense. If you are retiring or changing jobs and anticipate withdrawing money from your employer’s retirement plan, you can avoid withdrawal penalties by transferring your assets into an IRA or another qualified plan. You can ask your employer to arrange for a “direct rollover” of your money into a new IRA account with us, or you can do it yourself with an IRA-to-IRA rollover.

You must complete the rollover within 60 days from the date you receive the assets from your old IRA in order to qualify and not pay the mandatory 20% withholding and possibly other penalties as well. For more information about IRA Rollovers or opening a new IRA just give us a call.

 


We can help to make planning your retirement easier on your budget.

Open an IRA Certificate of Deposit with as little as $25. 

 →Compare IRAs
  
 →FAQs for IRAs
  
 →Current Rates

 

 

15 Month IRA Certificate of Deposit

  • You must deposit $1000 to open this account.
  • You must maintain a minimum balance of $500 in the account each day to obtain the disclosed annual percentage yield.
  • The interest rate for your account will be paid until the maturity date of your certificate (_____).
  • The current interest rate and annual percentage yield are listed on the Account Rate Sheet.
  • The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
  • After the certificate is opened, you may not make additional deposits into the account until the maturity date.
  • Withdrawals from this account may be made without penalty after you have reached the age of 59-1/2 or in case of death or disability. Any other withdrawals may be subject to a penalty equal to 180 day simple, nominal interest. This could reduce your principal.
  • Interest will be compounded semi-annually and credited to your account semi-annually and at maturity.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the ledger principal balance in the account each day.
  • This account will renew automatically at maturity. You will have five (5) business days after the maturity day to change your account if you choose to do so.
  • There are no fees for IRA certificates of deposit.

18 Month Variable Rate IRA Certificate of Deposit

  • You must deposit $25 to open this account.
  • There is no minimum balance required in the account each day to obtain the disclosed annual percentage yield.
  • The interest rate and annual percentage yield for your account may change. At our discretion, we may change the interest rate on your account at any time. The current interest rate and annual percentage yield are listed on the Account Rate Sheet.
  • Your account will mature on __________.
  • The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
  • After the certificate is open, you may make additional deposits of at least $25 into the account.
  • Withdrawals from this account may be made without penalty after you have reached the age of 59-1/2 or in case of death or disability. Any other withdrawals may be subject to a penalty equal to 180 days simple, nominal interest.
  • Interest will be compounded monthly and credited to your account monthly.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the ledger principal balance in the account each day.
  • This account will renew automatically at maturity. You will have five (5) business days after the maturity date to change your account if you choose to do so.
  • There are no fees for IRA certificates of deposit.

18 Month Fixed Rate IRA Certificate of Deposit

  • You must deposit $100 to open this account.
  • There is no minimum balance required in the account each day to obtain the disclosed annual percentage yield.
  • The interest rate for your account will be paid until the maturity date of your certificate (_____).
  • The current interest rate and annual percentage yield are listed on the Account Rate Sheet.
  • The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
  • After the certificate is opened, you may make additional deposits of at least $100 into the account.
  • Withdrawals from this account may be made without penalty after you have reached the age of 59-1/2 or in case of death or disability. Any other withdrawals may be subject to a penalty equal to 180 day simple, nominal interest.
  • Interest will be compounded semi-annually and credited to your account semi-annually.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the ledger principal balance in the account each day.
  • This account will renew automatically at maturity. You will have five (5) business days after the maturity date to change your account if you choose to do so.
  • There are no fees for IRA certificates of deposit.

30 Month IRA Certificate of Deposit

  • You must deposit $500 to open this account.
  • There is no minimum balance required in the account each day to obtain the disclosed annual percentage yield.
  • The interest rate for your account will be paid until the maturity date of your certificate (_____).
  • The current interest rate and annual percentage yield are listed on the Account Rate Sheet.
  • The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
  • After the certificate is open, you may make additional deposits of at least $500 into your account.
  • Withdrawals from this account may be made without penalty after you have reached the age of 59-1/2 or in the case of death or disability. Any other withdrawals may be subject to penalty equal to 180 days simple, nominal interest.
  • Interest will be compounded semi-annually and credited to your account semi-annually.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the ledger principal balance in the account each day.
  • This account will renew automatically at maturity. You will have five (5) business days after the maturity date to change your account if you choose to do so.
  • There are no fees for IRA certificates of deposit.

42 Month IRA Certificate of Deposit

  • You must deposit $500 to open this account.
  • There is no minimum balance required in the account each day to obtain the disclosed annual percentage yield.
  • The interest rate for your account will be paid until the maturity date of your certificate (_____).
  • The current interest rate and annual percentage yield are listed on the Account Rate Sheet.
  • The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
  • After the certificate is opened, you may make additional deposits of at least $500 into the account.
  • Withdrawals from this account may be made without penalty after you have reached the age of 59-1/2 or in the case of death of disability. Any other withdrawals may be subject to penalty equal to 180 days simple, nominal interest.
  • Interest will be compounded semi-annually and credited to your account semi-annually.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the ledger principal balance in the account each day.
  • This account will renew automatically at maturity. You will have five (5) business days after the maturity date to change your account if you choose to do so.
  • There are no fees for IRA certificates of deposit.

60 Month (5 Yr.) IRA Certificate of Deposit

  • You must deposit $1,500 to open this account.
  • There is no minimum balance required in the account each day to obtain the disclosed annual percentage yield.
  • The interest rate for your account will be paid until the maturity date of your certificate (_____).
  • The current interest rate and annual percentage yield are listed on the Account .
  • The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
  • After the certificate is open, you may not make additional deposits into the account until the maturity date.
  • Withdrawals from this account may be made without penalty after you have reached the age of 59-1/2 or in case of death or disability. Any other withdrawals may be subject to a penalty equal to 365 days simple, nominal interest.
  • Interest will be compounded semi-annually and credited to your account semi-annually.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the ledger principal balance in the account each day.
  • This account will renew automatically at maturity. You will have five (5) business days after the maturity date to change your account if you choose to do so.
  • There are no fees for IRA certificates of deposits.

Savings Account IRA

  • You must deposit $25 to open this account.
  • You may make additional deposits of at least $25 into this account.
  • There is no minimum balance required in the account to obtain the disclosed annual percentage yield.
  • The interest rate and annual percentage yield may change. At our discretion, we may change the interest rates for your account at any time. The current interest rate and annual percentage yield can be found on the Account Rate Sheet.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • Interest will be compounded monthly and credited to your account monthly. If you close your account before interest is credited, you will receive the accrued interest up to the date you close the account.
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the ledger principal balance in the account at the end of business each day.
  • Transfers from a Savings Account IRA to another account or to third parties by preauthorized, automatic, telephone agreement, or computer transfer or by check, draft, or similar order to third parties are limited to six (6) per calendar month.
  • For security reasons, there are other limits on the number of transfers you can make by ATM.
  • For security reasons, there are other limits on the number of transfers you can make by Debit Card.
  • There are no fees for Savings Account IRAs.