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Great Rates!0.75% APY*

Advice & Planning

Retirement Planning

At the time of your retirement, you’ll have spent years working to provide for your family. We want to help you ensure you get the retirement you deserve for all those years of hard labor.

It’s never too early or late to open a dividend-bearing IRA. There are no monthly fees, and you can contribute up to $5,000 every year — which may even be tax deductible*. Start saving today and reap the rewards tomorrow.

THE FEATURES
  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • $5,000 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Contributions may be tax deductible**
  • Funds can be used to purchase CDs within IRA
  • $5 minimum deposit to open

*APY = Annual Percentage Yield

**Consult a tax advisor.

TRADITIONAL VS. ROTH

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

Roth IRA 

  • Income limits to be eligible to open Roth IRA***
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59 ½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

***Consult a tax advisor.

Questions? We have answers

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