While retirement may seem light years away, the truth is it will be here in a flash. It's never too early to start saving, and IRAs offer certain tax advantages.* We have different plans to meet different financial situations. We also offer Coverdell accounts to save money for higher education. Invest in your future today.

Details
  • Save for retirement or future education expenses
  • Traditional, Roth, and educational IRAs available
  • Earn competitive dividends to grow savings quickly
  • Competitive returns
  • Flexible term options
  • Various tax advantages*
  • $25 annual maintenance fee
  • $25 termination fee (Rollovers, Transfers, Withdrawals)
  • No minimum deposit to open

*Consult your tax advisor.

Traditional vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70 ½

Roth IRA

  • Income limits to be eligible to open Roth IRA***
  • 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  • Principal contributions can be withdrawn without penalty*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 59 ½
  • 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.

***Consult a tax advisor.

Your future self will thank you…