As part of our banking family, we want to help you prepare and save money for your future. Opening an Individual Retirement Account (IRA) is a great way to set aside money for retirement. We offer Traditional IRAs, Roth IRAs and The Coverdell Education IRA to help achieve your retirement and educational needs and goals.
- $500 Minimum Deposit
- No Setup or Maintenance Fees
- Variety of IRA Terms and Maturities
- Transfer or Rollover Your Current IRA and Have the Convenience of Everything Under One Roof
- You May Receive Special Tax Benefits (consult your tax advisor for tax benefits).
Please call or stop by your nearest branch for assistance in opening or moving your IRA today.
Traditional Individual Retirement Account
A Traditional IRA is an individual retirement account that may provide tax benefits because contributions can be tax-deductible depending on income level and growth can be tax deferred until you take money out in retirement. Withdrawals are penalty-free and taxed as ordinary income when taken after age 59½. If you are in a higher tax bracket today than you will be during retirement, a Traditional IRA can be a smart option.
Roth Individual Retirement Account
A Roth IRA is an individual retirement account that offers the opportunity for tax-free income in retirement. Annual contributions are taxed up front and all earnings are federal tax-free when they are distributed according to IRS rules. Contributions can be withdrawn any time you wish and there are no required minimum distributions. If you are in a lower tax bracket today than you will be during retirement, a Roth IRA may be the right choice for you.
The Coverdell Education IRA
A Coverdell Education IRA is a great way to save and pay for your child's education. With a Coverdell Education IRA earnings and withdrawals are federal income tax-free if used for qualified education expenses, such as tuition and books.