Individual Retirement Accounts (IRAs)
|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|
|Minimum Balance to Earn Interest||$10.00||$10.00||$10.00||$10.00|
|Terms||6 Months -
|6 Months -
|6 Months -
|Early Withdrawal Penalty *||No|
|Online Banking Access||View only||View only||View only||View only|
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is made within the first six days after the deposit, we will impose a penalty of seven days interest on the amount withdrawn subject to penalty.