Retirement Accounts
| Products | Traditional IRA Term Deposits | ROTH IRA Term Deposits | SEP IRA Term Deposits | IRA Statement Savings |
| Features | Tax-deferred retirement savings in a fixed term account. | Tax-free retirement savings in a fixed term account. | Retirement plan established by the employer for the employee in a fixed term account. | Variable rate IRA savings that allows contributions anytime up to annual contribution limits. Available for Traditional, ROTH, or SEP IRAs. |
|---|---|---|---|---|
| Balance to Open | $500 | $500 | $500 | $10.00 |
| Interest Rate |
See Rates | See Rates | See Rates | See Rates |
| Minimum Balance to Earn Interest | $10.00 | $10.00 | $10.00 | $10.00 |
| Terms | 6 Months - 5 Years |
6 Months - 5 Years |
6 Months - 5 Years |
N/A |
| Early Withdrawal Penalty * |  |
|
|
No |
| Interest Frequency | Monthly | Monthly | Monthly | Monthly |
| Online Banking Access | View only | View only | View only | View only |
| Annual Fee |
$12.00 | $12.00 | $12.00 | $12.00 |
| Statements | Annually | Annually | Annually | Annually |
Click here to access the Internal Revenue website for more information on IRAs
* A penalty may be imposed for withdrawals before maturity:
- The fee we may impose will equal all interest that could have been earned for the remainder of the term. This could result in the loss of Principal.
- If the withdrawal is made within the first six days after the deposit, we will impose a penalty of seven days interest on the amount withdrawn subject to penalty.
In this section:
- Personal
- Business
- Online
- Other
