Individual Retirement Accounts (IRA)

Individual Retirement Accounts (IRA)

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Whether it's planning for retirement or those milestones in life. An IRA is a tax-advantaged account with valuable and unique benefits for your long-term goals. Contributions can be deposited into an IRA Share account, IRA Jumbo Money Market Account or an IRA Certificate.

Traditional IRA

Offers an immediate tax benefit for qualified taxpayers, since contributions may be fully or partially deductible. The money in your Traditional IRA (including earnings) is generally not taxed until you make a withdrawal.

Roth IRA

Roth IRA's do not offer a deduction for your contributions. However, as long as you follow the IRS requirements, you may never have to pay tax on your earnings. Early withdrawals are allowed under certain conditions.

SEP IRA

SEP IRA's provide an easy way for employers and self-employed individuals to set up a retirement account, with higher contribution levels than Traditional or Roth IRAs in many cases.

30 Month IRA Special

  • Earn 3.50% APY*
  • Minimum Balance $1000¹

Short-Term IRAs

TermAPY*
30 Day0.05%
3 Month0.15%
6 Month0.30%
12 Month0.40%

Long-Term Share IRAs

TermAPY*
18 Month0.50%
24 Month0.50%
36 Month0.50%
48 Month0.50%
60 Month0.50%

Frequently Asked Questions

IRA Savings and Money Market Account typically do not have a minimum balance to open. Most IRA certificates require a minimum opening balance, often starting at $1,000, though requirements may vary by product.

Dividends are typically credited monthly or at maturity, depending on the type of IRA account or certificate selected.

Yes. IRAs are designed to provide tax benefits, either through tax-deferred growth or tax-free withdrawals, depending on the account type.

Yes. The IRS sets annual contribution limits, which may vary based on age, income, and IRA type.

Funds can be withdrawn, but tax consequences and penalties may apply depending on the IRA type and the timing of the withdrawal.

IRA certificates typically do not allow additional deposits once opened.

Withdrawals before age 59½ may be subject to taxes and penalties, though certain exceptions may apply under IRS rules.

Yes. Funds from accounts such as a 401(k) or other qualified retirement plan can generally be rolled over into an IRA.

*APY = Annual Percentage Yield.
1. Minimum balance to open is $1,000.00. The stated APY assumes that the dividends will remain on deposit until maturity. Rate is subject to change at any time. Available on IRA accounts. A penalty for early withdrawal may apply. This offer can be withdrawn at any time.

Always consult your tax advisor for any questions.

Rates Effective April 13th, 2026