Individual Retirement Accounts (IRAs)

• Tax-advantaged¹ retirement savings
• Competitive dividends above standard savings rates
• Traditional and Roth IRA options
• No setup fees
• No monthly or annual maintenance fees
• $5,500 contribution limit per year
• Additional $1,000 "catch-up" contribution allowed for ages 50+

Traditional and Roth IRAs both offer unique tax advantages to streamline your retirement saving. See a quick comparison below. Then consult a tax advisor to determine which type of IRA is right for your retirement plans.

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 70½

Roth IRA

• Income limits to be eligible to open Roth IRA
• 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• Principal contributions can be withdrawn without penalty¹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.

Give your child an education to get ahead, not payments that put them behind. A Coverdell ESA lets you save for the costs of higher education while earning competitive dividends. Tuition, room, board, and books can add up in a hurry. Plan for your young one's tomorrow, today.

• No setup or annual fee
• Dividends grow tax-free
• Withdrawals are tax-free when used for qualified education expenses¹
• Designated beneficiary must be under 18 when contributions are made
• To contribute to an ESA, certain income limits apply²
• Contributions are not tax deductible
• $2,000 maximum annual contribution per child
• NCUA insured

¹Qualified expenses include tuition and fees, books, supplies, board, etc. 

²Consult a tax advisor.