IRA

Savings Accounts


Long term savings for retirement and college

  • No annual fees or service charges
  • Savings may be federally insured to at least $250,000
  • Contributions may be made through April 15 for the prior tax year.

Choose from three great options to save for retirement or college:

Traditional IRAs

  • Contributions are tax deductible* depending on your income and individual tax situation.
  • Maximum annual contribution is determined by federal government

Roth IRAs

  • Contributions are not tax deductible*, but principal and interest accumulate tax free.
  • Maximum annual contribution based on your adjusted gross income

Coverdell Education Savings Account (Education IRA):

  • Tax advantaged* savings for education.
  • Maximum annual contribution is $2,000.
  • In addition to college costs, payouts for elementary and secondary school expenses are now available.
  • Corporations and tax-exempt organizations may also make contributions.
  • Marriage penalty eliminated on income levels that qualify for the full contribution amount.

*Refer to your tax advisor for more information.