Hard work pays off. Our tax-advantaged1 IRAs make sure that payoff is even higher.
- Competitive Interest
- Tax Advantages1
- No Setup or Monthly Fees
- Experience tax-advantaged retirement savings1
- Competitive interest above standard savings rates
- Traditional and Roth IRA options are available
- SEP is also available for self-employed customers
- No setup fees
- No monthly or annual maintenance fees
- Annual contribution limits apply
- Additional $1,000 “catch-up” contribution allowed for ages 50+2
- Funds may be used to purchase CDs within your IRA
- $500 minimum deposit to open
1Consult a tax advisor.
2As of 2014; IRS may change figure annually.
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.
- 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
- 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- Principal contributions can be withdrawn without penalty1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 ages
- 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.