Make retirement a reality. Our IRAs help you save for that endless vacation, one contribution at a time.
- Competitive Interest
- No Setup or Maintenance Fees
- Tax Advantages
- Save for retirement with tax advantages
- Competitive interest above standard savings rates
- Traditional and Roth IRA options
- No setup fees
- No monthly or annual maintenance fees
- Annual contribution limits apply (see current contribution limits; $6,000 as of 2020)
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Funds can be used to purchase CDs within IRA
- $1,000 minimum deposit to open
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.
- No 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
- Early withdrawals subject to penalty2
- Mandatory withdrawals at age 70½
- 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- Principal contributions can be withdrawn without penalty1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.
2Certain exceptions apply, such as healthcare, purchasing first home, etc.
For terms and conditions, account information, and a list of fees and charges that may apply, please refer to our Customer Agreement & Schedule of Charges, Books I & II.
This information is effective 4/1/2021 and subject to change anytime without notice.