CDs and IRAs
Let us help you make the most of your money.
Certificates of Deposit (CDs)
From seven days to five years, our CDs offer guaranteed rates, FDIC insured safety, and the peace of mind only money in the bank can bring!
Individual Retirement Accounts* (IRAs)
We offer:
Traditional IRAs
This IRA is designed for individuals who want to save tax-deferred dollars and want their annual contributions to be tax-deductible. However, penalty-free withdrawals may be made at any time for college expenses or the purchase of a first home.
Roth IRAs
The major benefit of a Roth IRA is tax-free earnings growth. Although contributions to the Roth IRA are not tax-deductible, earnings grow tax-free and your contributions can be removed at any time without federal taxes or penalties.** You are not required to receive distributions at 70 1 / 2 and in most cases, you can pass your Roth assets to your heirs free of federal income taxes.
Withdrawal of earnings is tax-free when certain distribution rules are met.
Coverdell Education Savings Accounts (formerly the Education IRA)
This savings account is specifically designed to provide a tax-free way to save for education expenses for any minor child until the age of 18 on a nondeductible basis. This account can be used to pay for elementary and secondary education (K-12) expenses incurred in a public, private or religious school, as well as college, technical or postgraduate work.
Earnings grow tax-free, and withdrawals for qualified education expenses are also tax-free.
Health Savings Accounts (HSA)
An HSA allows individuals to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis. It works much like an IRA, except that the money is intended to be used for qualified healthcare costs.
* Check with your financial advisor for more details about the IRA that's best for you and your tax-deductibility status.
** Bank penalties may apply for early withdrawal.
