IRA

A Traditional IRA (Individual Retirement Account) could make a lot of sense for long-term retirement planning. Social Security benefits are not intended to provide all of your retirement income. We offer a Traditional IRA savings account and IRA share certificate.

IRA contributions may be made in a lump sum or by regular deposits over the counter or by payroll deduction. You may also roll over a lump sum you receive from another qualified retirement account.

Contributions may be tax-deductible depending on your income, marital status and whether you have a retirement plan at work.

Taxes are deferred on earnings. Withdrawals can be made IRS penalty-free at age 59-1/2 and are taxed as ordinary income.

Additional benefit comes from possibly being in a lower tax bracket at retirement age.

IRA Savings Account

• No minimum balance requirement
• Dividends are compounded and credited quarterly

IRA Share Certificates

• Minimum deposit $1,000
• Fixed rate for the entire term of the certificate
• Terms range from 3 months to 48 months
• Dividends are compounded daily and credited monthly on the last day of the month

Check out our Dividend Rates.

Schedule an appointment to speak to a member services representative about opening a traditional IRA by dialing 609.945.6200.