Individual Retirement Accounts (IRAs) & Roth IRAs
An interest-earning account with a guaranteed fixed rate and a wide range of terms.

Choose from:

Traditional IRA
A retirement account that allows you to set aside money each year. Contributions may be tax deductible and earnings grow tax-deferred. Deductible contributions and earnings are taxed when withdrawn, typically at retirement. A 10% IRS penalty may apply for pre-mature withdrawals.

Roth IRA
A type of IRA that allows you, subject to certain income limits, to set aside money each year to grow tax-deferred. Contributions may be withdrawn tax-free at any time. Earnings may be withdrawn tax-free if certain conditions are met, otherwise taxes and penalties may apply.

Opening Deposit: $1,000 minimum

Terms: From 12 to 18 months

Interest:
  • The rate in effect when you open the CD or when the CD renews is fixed for the term of the deposit
  • Interest is compounded daily
  • Interest distributions are reported to the IRS as a taxable distribution (IRS penalties may apply)
  • Interest is re-deposited into your CD and is paid monthly