IRAs

Roth IRA

This account gives you flexible, tax-free withdrawal options to boost your retirement savings.  Contributions to the Roth IRA have already been taxed, which means if your contributions are according to the specified guidelines, the principal amount is never subject to taxes or penalties in the future.   Additionally, if you refrain from withdrawing any earnings for five years your contribution can grow tax-free.

Traditional IRA

This retirement plan offers tax-deferred earnings and the possibility for tax deductible contributions. These tax advantages make the Traditional IRA a powerful tool in creating a balanced, long-term savings plan.

Coverdell IRA

The purpose of this educational savings account is to pay for your child’s education expenses, such as tuition, fee, books, supplies, equipment and in some cases room and board along with computers.  It can also be used to pay for qualified elementary and secondary education expenses.  Earnings grow on a tax-deferred basis and distributions are tax-free if the money is used to pay qualified education expenses.

Variable Rate IRA

• Can be started with as little as $5.
• Minimum balance to earn interest is $50.
• Deposits can be made anytime for any amount up to the legal maximum.
• Deposits can be made through payroll deduction, automatic transfers or direct deposit services.

IRA Certificates

• $1,000 minimum deposit
• Dividends paid quarterly
• 12-month minimum