Savings, CDs and IRAs

No matter what your goals are, we have a savings program that works for you.

Account  Minimum Balance to Open  Minimum Balance to Earn Interest  Monthly Service Fee 
Savings  $100  No Minimum Balance Required  $2 if average balance falls below $100 
Traditional IRA $100  No Minimum Balance Required n/a 
Roth IRA  $100  No Minimum Balance Required  n/a 
Education IRA  $100  No Minimum Balance Required  n/a 
IRA Certificates of Deposit  $500 $500 n/a 
Certificates of Deposit  $500 $500  n/a 

Individual Retirement Accounts* (IRA)

Retirement is the time to enjoy life, and we want to make sure you have the financial security to live the retirement of your dreams. That’s why we offer a variety of no maintenance fee, tax-advantaged IRA investments.

Traditional IRA

Your contributions are 100% vested immediately and may be deductible for the year it is made depending on whether or not you participate in a retirement plan. Earnings grow tax-free until withdrawn. Distributions are required in the year you turn 72 (effective tax year 2020).

Roth IRA

A Roth IRA allows annual non-deductible contributions. Earnings grow tax-free, and qualified distributions are tax-free after a five-year holding period. Mandatory distributions are NOT required.

Education IRA

Contributions to an Education IRA are not tax deductible. However, withdrawals that are made for a child’s higher education expenses are tax-free and penalty-free in the year they are taken.

*Consult your tax advisor about the tax deductibility of contributions, distributions, and earnings.

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