Investment/Retirement Accounts

Certificates of Deposit

  • $1,000.00 minimum balance for 3, 6, and 12 month certificates
  • $5,000.00 minimum balance for 18 and 24 month certificates
  • Dividends are typically compounded quarterly
  • Small penalty for early withdrawal from Certificate of Deposit

Individual Retirement Accounts (IRA)

Traditional IRA

  • Dividends are compounded quarterly
  • Contributions can be made into IRA savings or IRA certificate account
  • Contributions are typically tax deductible
  • Required minimum distributions begin at 70 ½ years of age
  • Penalty- free withdraws begin at 59 1/2

Roth IRA

  • Dividends are compounded quarterly
  • Contributions can be made into IRA savings or IRA certificate account
  • Contributions are not tax deductible
  • There is no age requirement for minimum distributions

Note: If you are not sure which IRA is best for you, we recommend you consult your tax accountant or financial planner to ensure that you realize the greatest benefits possible from your IRA account.

Open an Account