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Individual Retirement Accounts

IRAs

We offer Individual Retirement Account investments as a safe way to meet your retirement needs.

  • No monthly service fees or annual trustee fees.
  • Contributions may be made in "lump sums", by regular deposits or by payroll deductions to the IRA Share throughout the year.
  • IRA Term Share Certificates (CDs) are also available with a minimum deposit of $500.
IRA Service Center
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Resources

Traditional

A Traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax-deductible in the year they are made. Consult your tax advisor for further information.

Rollover

If an IRA is composed entirely of one or more rollovers from a qualified pension plan, it may, at a later date be rolled back into a qualified pension plan. You can do this with our Rollover IRA. You can open a Rollover IRA and we will handle the Direct Rollover request from your employer. Consult your tax advisor for further information.

Roth

A Roth IRA allows only nondeductible contributions but features tax-free withdrawals for certain distribution reasons after a five-year holding period. The term "tax-free" means free from federal income taxes. Consult your tax advisor for further information.

Coverdell

The Coverdell Education Savings Account (CESA) is a nondeductible account that features tax-free withdrawals for a very specific purpose - a child's education expenses.  Higher education distributions are also permitted from these accounts, but while qualified higher education distributions from a traditional or Roth IRA are only penalty tax-free, the same distributions from a CESA are penalty-free and federal income tax-free.  Consult your tax or legal professional for further information regarding state or local income taxes.