Individual Retirement Accounts (IRAs)
If you desire a secure way to save for retirement, to save for a child's education, or to have a tax-deferred way to save, an IRA may be right for you.
- $250.00 Minimum Opening Deposit
- Interest Accrued Daily and is paid at maturity
- Substantial Penalties for early withdrawal
- Traditional: A tax-deferred account designed specifically for retirement savings
- Roth: Allows after-tax contributions with the potential for tax-free income in retirement
- Coverdell: Contributions are not taxed as they accumulate and distributions used to pay for qualified education expenses for eligible students are generally not subject to federal income tax