Individual Retirement Accounts (IRAs)

• Competitive interest above standard savings rates
• Traditional and Roth IRA options
• No setup fees
• Annual contribution limits apply (see current contribution limits)³
• Additional "catch-up" contribution allowed for ages 50+
• Funds can be used to purchase CDs within IRA
• $100 minimum deposit to open IRA Savings
• $1,000 minimum deposit to open IRA CD

When do you want to enjoy your tax advantage? A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.

 Traditional IRA

• Earned 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 (without penalty)
• Early withdrawals subject to penalty²
• Mandatory withdrawals at age 73
• No age limit on making contributions as long as you have earned income

Roth IRA

• 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• Principal contributions can be withdrawn without penalty¹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 (without penalty)
• Early withdrawals on interest subject to penalty²
• No mandatory distribution age
• No age limit on making contributions as long as you have earned income