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Individual Retirement Accounts |
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Account
Name |
Minimum to
Open |
Terms |
Service
Charge |
Withdrawal Limitations |
|
Individual Retirement Account |
$1,000 to
$5,000 |
3 months
to 48 months |
N/A |
Possible
penalties for early withdrawal. |
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We
offer Traditional, Roth and
Educational IRA's.
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If you
have earned income you can
contribute to an IRA.
ROTH
TRADITIONAL
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A
Traditional IRA offers independence,
and can be opened and funded without
any employer participation.
Immediate tax benefits, with
contributions and/or earnings
tax-deferred until retirement.
Accessibility with funds always
available, something not generally
true of employer plans and
flexibility because there is no
minimum contribution in any year,
and you can choose your investments
and financial institution.
EDUCATIONAL
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An
Educational IRA allows for the
purpose of paying for the future of
a child's post-secondary education.
A total of $2000 per year after tax
contributions for each child until
they reach the age of 18. These
contributions and their subsequent
earnings are tax-free when withdrawn
to pay for qualified education
expenses.
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Qualified expenses include tuition,
fees, books, supplies and equipment.
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Be
sure to consult with a tax advisor.
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Get a CD
with a Positive Attitude |
|
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