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Account Account Snapshot Features
Traditional Individual Retirement Account Tax-advantage arrangement that allows earnings and deductible contributions to grow tax-deferred.
  • Earns a competitive interest rate
  • Earnings grow on a tax deferred basis
  • Deductible contributions and earnings are subject to federal income tax when withdrawn
  • You must have earned income to contribute
  • Annual contribution limits vary by year and by earned income
  • Early withdrawal penalty may apply
  • Fixed rate option:
    • $500 minimum opening balance
    • Terms available: 12, 18, 24, 36, 48, and 60 months
  • Variable rate option:
    • $5 minimum opening balance
    • 18 month term
  • Consult your tax advisor
Roth Individual Retirement Account Unique and exciting savings opportunity that gives you an easy and safe way to plan for the future.
  • Earns a competitive interest rate
  • Contributions are allowed at any age
  • Qualified distributions are tax-free
  • Accumulate earnings on a tax-deferred basis
  • Flexible withdrawal options are available
  • You must have earned income to contribute
  • Annual contribution is dependent on your modified adjusted gross income as determined on your federal income tax form
  • Early withdrawal penalty may apply
  • Fixed rate option:
    • $500 minimum opening balance
    • Terms available: 12, 18, 24, 36, 48, and 60 months
  • Variable rate option:
    • $5 minimum opening balance
    • 18 month term
  • Consult your tax advisor
Coverdell Education Savings Account A method to save for a child's secondary and post-secondary education.
  • Earns a competitive interest rate
  • Available for the benefit of any child under 18 years of age
  • Annual contribution is dependent on your modified adjusted gross income as determined on your federal income tax form
  • All earnings accumulate on a tax-deferred basis and can be withdrawn tax-free to pay for qualified education
  • Early withdrawal penalty may apply
  • Fixed rate option:
    • $500 minimum opening balance
    • Terms available: 12, 18, 24, 36, 48, and 60 months
  • Variable rate option:
    • $5 minimum opening balance
    • 18 month term
  • Consult your tax advisor

 

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