Personal Banking

IRA Savings - Individual Retirement Accounts

Individual Retirement Account (IRA) offers potential tax benefits* and the opportunity to grow savings for whatever the future holds.

Account Details

  • Flexible terms from 1 year to 30 months
  • Minimum opening deposit $100

Traditional IRA's

  • Money in account grows on a tax-deferred basis*
  • Withdraw money without penalty at age 59½*
  • Required minimum distributions must begin after age 70½ 

Roth IRA's

  • Money in account grows tax-free, however contributions are not tax-deductible*
  • Tax-free withdrawals at age 59½ if held in account at least five years*
  • Not required to begin taking distributions at age 70½

Education IRA's

  • Contributions and earnings grow tax-free
  • Money can be used without a penalty for certain education expenses

*Please consult tax advisor for information regarding tax benefits and penalties.

Questions? Contact us.

Personal Business Retirement