IRAs

Prepare for the future.

The road to retirement is never as long as we think, which is why you should be preparing for retirement now.*

*We always recommend seeking the advice of a tax professional when considering your retirement options so you may fully understand the consequences of those options.

traditional IRAs

This is the IRA you are used to hearing about. This classic IRA features:

You may get a tax deduction, plus an extra $1,000 catch-up contribution if you are 50 or older. The tax deduction eligibility depends on your income and other factors.
Earnings on a Traditional IRA are not taxed until withdrawn.
Withdrawals of principal and interest are taxed when withdrawn, but the delayed taxation usually means a lower tax rate when made after retirement.
Early withdrawals come with a steep penalty. Besides your regular income tax rate, the IRS assesses a 10% early penalty for withdrawals made before age 59¹/₂.

A Traditional IRA is generally preferred for those who anticipate being in a lower tax bracket after retirement due to reduced income. If your place of employment doesn't offer a retirement plan, a Traditional IRA may be for you, too.

Current offerings

We offer the following options for all IRA account types:

Term	Minimum Opening Deposit	Additional Deposits Allowed
18 month variable rate	$100.00	Yes - minimum of $100
36 month fixed rate	$500.00	No

An early withdrawal penalty (separate from any federal tax penalty) of 91 days interest will be charged for withdrawals made before the stated maturity.
All interest bearing transaction accounts are subject to change
All transactions received after 6:00 p.m. will be credited the next business day.
Check out our current deposit interest rates here.