Individual Retirement Account

Individual Retirement Accounts (IRAs) are a tax advantaged way to plan for your retirement.  Start saving for your long term goals today!  Fund your IRA as a savings account or a certificate of deposit. 

A Traditional IRA is a retirement account that offers the flexibility of making tax deductible contributions.  Deposits to the account are tax deductible in the year the deposit is made.
  • Dividends paid monthly
  • Earnings grow tax deferred
  • No minimum balance on IRA Savings Accounts; minimums do apply on IRA Certificates of Deposit
  • Penalties may apply for early withdrawal

A Roth IRA is a retirement account that allows your contributions to be withdrawn tax free, however, there is no tax deduction in the year you make the contribution deposit.
  • Dividends paid monthly
  • No minimum balance on IRA Savings Accounts; minimums do apply on IRA Certificates of Deposit
  • Qualified withdrawals are tax free
  • No mandatory withdrawals
  • Qualified education expenses are penalty free

A SEP IRA (Simplified Employee Pension) can be opened by any business owner with one or more employees, or by anyone with freelance income. SEP IRAs are structured like Traditional IRAs. Contributions are tax-deductible for the business or the individual, and go into a Traditional IRA held in the employee's name. One of the key advantages of a SEP IRA over a traditional IRA is the higher contribution limit. For 2016, business owners can contribute up to 25% of income, or $53,000, whichever is less.

A Coverdell Education Savings Account (ESA) is an investment vehicle to help you save for a child's education.
  • Dividends paid monthly
  • No minimum balance on Savings Accounts; minimums do apply on Certificates of Deposit
  • Contributions and subsequent earnings are tax-free when withdrawn to pay for qualified education expenses
  • Unused funds may be transferred to another child in the family

Open your account now!