
In This Section
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.