Certificates of Deposit (CDs)

Term

91 Days
182 Days
12 Months
18 Months
24 Months
36 Months

Minimum Deposit

$1,000
$1,000
$500
$1,000
$1,000
$1,000

Individual Retirement Accounts (IRAs)

Traditional IRA

• Contributions may be tax deductible.
• Earnings grow tax deferred until withdrawn at or after age 59 ½. Once withdrawn, the funds are taxed as income at your current federal income tax rate.
• Contributions of taxable compensation can be made until the year in which you reach age 70 ½. (Go to irs.gov to see how much you can contribute each year.)
• Required Minimum Distribution (RMD) must be taken each year after you turn 72.

Roth IRA

• Contributions are NOT tax deductible.
• Earning on the account are federal income tax free as long as the account has been open for five years or more and you are over 59 ½ years old.
• Contributions can be withdrawn tax free at any time.
• No Required Minimum Distribution (RMD).

Rollover IRA

• If you have a 401(K) from a previous employer it can be rolled into an IRA.

Please consult your tax adviser to see which IRA is best for you.