Grandpa hugging his two grandchildren and smiling.

IRAs

To taste the fruit, a seed must be planted.

Same goes with retirement. We'll make it easy to get started with an Individual Retirement Account (IRA), so you can enjoy the fruits of your labor sooner.

Rates & Fees / Personal Account Disclosure

traditional and roth iras

There are advantages to both traditional and Roth IRAs. One of the biggest differences is when and how much you pay in taxes. A traditional IRA provides possible tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.

No setup or maintenance fees
Easy rollovers from other plans
Choose to invest your IRA funds in certificates or a money market (or a combination of both)
$5,500 contribution limit per year (add'l $1,000 for ages 50+)
$1,000 minimum deposit to open a certificate
$500 minimum balance to earn dividends in a retirement savings account.

Traditional IRA

Contributions are tax deductible*
Withdrawals can begin at age 59½
Mandatory withdrawals at age 70½
Early withdrawals subject to penalty**
No income limits to open
Earnings are tax deferred until withdrawal

*Subject to some minimal conditions. Consult a tax adviser.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Roth IRA

Adjusted gross income must be less than $118,000 to contribute ($186,000 for joint filers)*
Contributions are NOT tax deductible
Earnings are 100% tax free at withdrawal**
Principal contributions can be withdrawn without penalty**
Early withdrawals on interest subject to penalty***
Withdrawals on interest can begin at age 59½
No mandatory distribution age