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Rates

You’ve put in the work — retirement is the time to cash in. Choose between traditional or Roth and get started today.

Key Features

Competitive Interest

No Monthly Fees

Tax Advantages

  • Save for retirement with tax advantages1
  • Earn competitive interest higher than regular savings
  • Interest paid quarterly
  • Available in Traditional and Roth
  • Annual contribution limits apply
  • $1,000 annual “catch up” contributions allowed for ages 50 and better
  • No annual fees or set-up fees
  • No minimum balance requirements
  • Federally insured
  • $500 minimum deposit to open

1Consult a tax advisor

Traditional IRA

  • No income limits to open
  • No minimum contribution in any year
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals begin at age 70½

Roth IRA

  • Income limits to be eligible to open Roth IRA
  • 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  • Principal contributions can be withdrawn without penalty1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 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.

Create an easier transition into college for yourself and your student by setting up a savings account early. A Coverdell Education Savings Account (ESA) provides a tax-free safe place to grow competitive interest and also financial confidence for a new stage in life. 

  • Set aside funds for your child's education
  • No setup or annual fee
  • Interest grows tax-free
  • Withdrawals are tax-free and penalty-free when used for qualified education expenses1
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply2
  • Contributions are not tax deductible
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time he or she turns 303
  • The ESA may be transferred without penalty to another member of the family 

1Qualified expenses include tuition and fees, books, supplies, board, etc.

2Consult your tax advisor to determine your contribution limit.

3Those earnings are subject to income tax and a 10% penalty.