Individual Retirement Accounts
Don't stress retirement — spend your golden years doing what you love to do. An IRA can help you secure your retirement with tax-advantaged* savings.
Choose between our traditional or Roth options, depending on your needs. Either way, you'll enjoy a competitive rate that's higher than standard savings rates.
- Save for retirement with tax-advantages*
- Traditional or Roth options available
- Earn competitive interest at a higher rate than standard savings
- No monthly or annual service fees
- No setup fees
- Annual contribution limits apply (see current contribution limits)
- Additional "catch up" contribution allowed for members age 50 and better
- Deduct contributions from your paycheck, checking, or savings
- Early withdrawal penalties may apply
- $1,000 minimum deposit to open
*Consult a tax advisor.
**As of tax year 2014.
- Traditional vs. Roth
Depending on your retirement goals, you may want to open a traditional IRA or a Roth IRA. We can help you find which IRA is right for you — simply contact us or stop by one of our locations for answers to your IRA questions.
- 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
- 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- Principal contributions can be withdrawn without penalty* Withdrawals on interest can begin at age 59 ½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.