Personal Banking

IRAs Deposit Rates

Certain contributions are tax deductible.
Tax deferred growth on earnings.
You must be under age 70-1/2 to open a Traditional lRA.
You are eligible to take distributions without penalty at age 59-1/2.
You can also take distributions without penalty, under age 59-1/2, if the distributions are for first-time home purchase or qualified higher education expense.
Contribute up to $5,000 per year
Spousal IRAs are available, and contributions of up to $10,000 per year can be made.
"Catch-up" contributions of up to $1,000 are allowable each year after age 50.
FDIC Insured.

Contributions are not tax deductible.
Tax free withdrawals for certain distributions, such as first-time home purchase, after a five year holding period.
There is no age limit on establishing a Roth IRA, nor is there any age at which a deposit or must take distributions.
Contribute up to $5,000 per year
Spousal IRAs are available, and contributions of up to $10,000 per year can be made.
"Catch-up" contributions of up to $1,000 are allowable each year after age 50.
FDIC Insured.

A great way to save for a child's higher education expenses. These expenses generally include tuition, books, fees, supplies and room and board.
You can contribute up to $2,000.00 per child (person under age of 18) per year.
Contributions are not tax deductible.
Tax-free withdrawals for child's (beneficiaries) qualified higher education expenses.
Neither you nor the child pay taxes on the earnings, provided the money is used for qualified higher education expenses (tuition, fees, books, supplies, equipment, etc.).
FDIC Insured.

Any of these IRAs can be opened by a representative in one of our banking offices. We can also transfer or rollover existing IRAs for you.