Individual Retirement Accounts
Financial Solutions That Work for You
Our Individual Retirement Accounts (IRAs) offer a safe, easy and convenient way to start saving for your retirement today. The key advantage of IRAs is that they allow for tax-free asset growth, meaning you won’t pay taxes on your untaxed earnings or contributions until you’re required to start taking distributions at age 72. While IRAs offer many advantages for retirement, it’s important to be aware that there are limits to how much you can contribute, and penalty fees for taking money out early.
|Minimum Balance to Open||Earns Interest||Terms||Penalties|
|IRA||$100||Fixed/Variable for 18 months||If cashed before maturity, a penalty is applied if under 59½|