Roth IRA
Build Your Long-Term Retirement Portfolio
A Roth IRA allows you to make non-tax deductible contributions to a retirement plan. Although it may seem a disadvantage the good news is on the other side – earnings and withdrawals are generally tax free. A Roth IRA is a good choice if you are younger or expect to be in a higher tax bracket when you retire.
- Earnings can escape taxation.
- Contribution withdrawals tax free.
- Early qualified distributions are allowed.
- Minimum distribution rule does not apply.
- Cannot deduct contributions.
Another advantage of our Roth IRAs is that you are not required by law to take distributions after you reach the age of 70 1/2, and if you are earning wages, you can continue to make contributions beyond this age.
| Account Type | Minimum Daily Balance to Earn APY | APY | ||
|---|---|---|---|---|
| IRA Savings | None | 0.10% | ||
| 1 Year Certificate | $500 | .60% | ||
| 2 Year Certificate | $500 | .60% | ||
| 3 Year Certificate | $500 | .85% | ||
| 4 Year Certificate | $500 | 1.05% | ||
| 5 Year Certificate | $500 | 1.40% | ||
| Accounts are compounded and credited monthly and charge a penalty for early withdrawal. Annual Percentage Yield (APY) subject to change without notice.View Rate Sheet for more requirements. | ||||
Helping Your Balance Go UP
You can apply to open additional savings or checking accounts as well as certificates or money market accounts at any branch location.
