Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs)

Rates

Live out your future on your terms by setting up a tax-advantaged account1. We offer both traditional and Roth IRAs.

Key Features

  • Guaranteed Returns
  • Locked Rate
  • Variety of Terms
Apply Now
  • Tax-advantaged1 traditional IRA helps you save for retirement
  • Earn competitive interest higher than regular savings
  • Contribution types include individual, spousal, transfers, and rollovers
  • Annual contribution limits apply
  • $1,000 annual “catch up” contributions allowed for ages 50 and better
  • No annual fees or set up fees
  • CDs available within IRAs
  • $100 minimum deposit to open
  • Federally insured

1Subject to some minimal conditions. Consult a tax advisor.

Which kind of IRA works best for you? Traditional and Roth IRAs both offer distinct tax-advantages to help you save. But they work in different ways. Consult a tax advisor to determine the IRA that best suits your retirement plans.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 70½

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

1Subject to some minimal conditions. Consult a tax advisor.

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.

Apply Now