Individual Retirement Accounts (IRAs)
Individual Retirement Accounts (IRAs)
After years of hard work, you deserve to retire in comfort. Even if your retirement is still a few years away, it’s never too late to start preparing. When you open an IRA, you'll earn more with competitive rates that really add up.
We offer traditional and Roth options, as well as a wealth of knowledge through our IRA service center. Visit the site to find the plan that's right for you at any stage in your life.
IRA Savings Account
| Minimum Deposit | Rate | APY* |
| $100 | 0.199% | 0.20% |
IRA Certificate - 6 Months (Reg/Roth/Educ)
| Minimum Deposit | Rate | APY* |
| $1,000 | 0.847% | 0.85% |
| $20,000 | 0.847% | 0.85% |
| $50,000 | 0.847% | 0.85% |
| $100,000 | 0.897% | 0.90% |
Early withdrawal penalty may apply to all certificates at 15 day x original term of dividends on amount withdrawn.
IRA Certificate - 12 Months (Reg/Roth/Educ)
| Minimum Deposit | Rate | APY* |
| $1,000 | 4.745% | 4.85% |
| $20,000 | 4.745% | 4.85% |
| $50,000 | 4.745% | 4.85% |
| $100,000 | 4.793% | 4.90% |
Early withdrawal penalty may apply to all certificates at 15 day x original term of dividends on amount withdrawn.
IRA Certificate - 24 Months (Reg/Roth/Educ)
| Minimum Deposit | Rate | APY* |
| $1,000 | 4.073% | 4.15% |
| $20,000 | 4.313% | 4.40% |
| $50,000 | 4.313% | 4.40% |
| $100,000 | 4.361% | 4.45% |
Early withdrawal penalty may apply to all certificates at 15 day x original term of dividends on amount withdrawn.
IRA Certificate - 36 Months (Reg/Roth/Educ)
| Minimum Deposit | Rate | APY* |
| $1,000 | 3.348% | 3.40% |
| $20,000 | 3.348% | 3.40% |
| $50,000 | 3.348% | 3.40% |
| $100,000 | 3.396% | 3.45% |
Early withdrawal penalty may apply to all certificates at 15 day x original term of dividends on amount withdrawn.
IRA Certificate - 60 Months (Reg/Roth/Educ)
| Minimum Deposit | Rate | APY* |
| $1,000 | 3.445% | 3.50% |
| $20,000 | 3.445% | 3.50% |
| $50,000 | 3.445% | 3.50% |
| $100,000 | 3.493% | 3.55% |
Early withdrawal penalty may apply to all certificates at 15 day x original term of dividends on amount withdrawn.
- Competitive dividends above standard savings rates on balances of $200 or more
- Traditional and Roth IRA options
- No setup fees
- No monthly or annual maintenance fees
- $5,000 contribution limit per year
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Funds can be used to purchase certificates within IRA
- $100 minimum deposit to open
Learn More
Visit our IRA service center, to learn more about IRAs!
There are advantages to both traditional and Roth IRAs. Two of the biggest differences are the timing and tax implementations of the accounts. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of your retirement.
Traditional IRA
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax1
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty2
- Mandatory withdrawals at age 72
Roth IRA
- Income limits to be eligible to open Roth IRA3
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal1
- Principal contributions can be withdrawn without penalty1
- Withdrawals on interest can begin at age 59½
- Early withdrawals on interest subject to penalty2
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
1Subject to some minimal conditions. Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing first home, etc.
3Consult a tax advisor.
- Contributions are not tax deductible, only tax deferred
- Qualified education expenses can be withdrawn tax free
- Maximum annual contribution of $2000 per child
- No taxes are paid on withdrawals if used for qualified higher education expenses before the beneficiary reaches the age of 30
- Funds can be transferred from one child’s account to another family member who is under the age of 30
*APY = Annual Percentage Yield. Dividend rate and APY accurate as of 04/14/2023. Early withdrawals may result in penalties. The amount of early withdrawal penalty on your account is 15 days dividends on the amount withdrawn for each month of the original term of the certificate. Rates subject to change without notice. Fees could reduce earnings.
