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IRA Investment Options

A variety of options that will help you retire comfortably. Review Rates

IRA Investment Options

A variety of options that will help you retire comfortably. Review Rates
It's never too early to start building your retirement funds. In fact-- the sooner, the better. We offer a variety of IRA investment options to suit your needs.

Traditional IRAs

This account allows those ages 70-1/2 and under to save money, tax-deferred, for retirement.

  • $25 minimum deposit
  • Earnings grow tax-deferred
  • 100% of contributions are tax-deductible if you are not active in an employer-sponsored pension plan
  • Contribute up to $7,000 per year or 100% of your earned income (whichever is less)
    • Married members filing jointly may contribute an additional $6,000 to their spouses' IRA
  • Withdrawals can be made without penalty after age 59-1/2
Effective January 1, 2015, you may only roll over one IRA distribution in any 12-month period, regardless of how many IRAs you own.

Coverdell Education Savings Account

Our Coverdell Education Savings Account (ESA) lets you help your child or family member prepare for college or any stage of education. Money saved grows tax-free and can be used for a variety of educational expenses.

  • $25 minimum deposit
  • Earnings grow tax-free
  • Make contributions up to $2,000 per year for each child
  • Transfer unused funds to a family member with no penalty
  • Tax-free withdrawals for qualified expenses including tuition, fees, books, supplies and more
  Traditional IRAs Coverdell Education
Savings Account
Roth IRA
Maximum Yearly Contribution $7,000 per year or 100% of earned income (whichever is less).
Married members filing jointly may
contribute up to their spouses'
IRA additional $6,000 amount.
$2,000 per child $7,000 per year or 100% of earned income (whichever is less).
Married members filing jointly may contribute up
to their spouses' IRA additional $6,000 amount.
Tax Deductible Contributions Normally 100% deductible Non-deductible Non-deductible
Tax Exempt/Deferred Earnings Deferred Deferred Deferred or Exempt depending on the circumstances
Required Minimum Distribution Required at age 72 None None
Certificates Available Yes Yes Yes

Roth IRA

Our Roth IRA can be used independently or in conjunction with a Traditional IRA. Roth IRAs allow you to save money at any age and make tax-free qualified distributions.

  • $25 minimum deposit
  • Earnings grow tax-free
  • Contributions can be made at any age with earned income
  • Contributions up to $7,000 per year or 100 percent of your earned income (whichever is less)
    • Married members filing jointly may contribute up to their spouses' IRA additional $6,000 amount.
  • Qualified distributions are tax and penalty free
  • No required minimum distribution

Effective January 1, 2015, you may only roll over one IRA distribution in any 12-month period, regardless of how many IRAs you own.

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