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It’s never too early or too late to start saving for your golden years. And with an IRA, you can save with special tax advantages.*

  • Make your golden years some of your best by saving in advance
  • Save for retirement with special tax advantages*
  • With Traditional and Roth IRA options available, you can choose the IRA type that best fits your needs
    • You'll also have the option of selecting an IRA savings or IRA certificates
  • Competitive dividends above standard savings rates
  • Contributions can be made as a payroll deduction
  • No setup fees
  • Avoid the $25 annual fee by maintaining a $500 minimum balance
  • Annual contribution limits apply (see current contribution limits; $6,000 as of 2021)
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Early withdrawal penalties may apply
  • $50 minimum deposit to open
There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 72

Roth IRA
  • There are income limits to be eligible to open Roth IRA***
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income
*Subject to some conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.
*Consult a tax advisor.
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