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Rates

Save for retirement with a dividend-bearing IRA.

Key Features

  • Competitive Dividends
  • No Setup Fees
  • No Monthly or Annual Fee
  • Tax Advantages1
  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • $5,500 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase certificates within IRA
  • $500 minimum deposit to open

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 tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 70 ½

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  • Principal contributions can be withdrawn without penalty1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 59 ½
  • 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.

1Consult a tax advisor.

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What Our Members Are Saying...

"Megan M. was excellent to work with. She took her time and explained all the benefits of opening the accounts both personal and business. She answered all my questions I had plus some! Great experience and I love having a bank so close to my house!"

Allen

"They are eager to help any way they can, friendly, clean bank, and almost always greet you with kindness and a smile. I like the fact they try very hard to help with loans as well as anything else. Seldom do we have to wait in line more than 5 minutes to be helped."

Annie

"Never had any problems, friendly and nice people, fast service, very helpful."

Jennifer

"Cause it's the kind of banking that you would like to do. The bank tellers are real friendly they're very helpful!"

Richard

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