Certificates & IRAs

 

A great investment for your future begins with these simple products to save any amount that benefits you now and in the future. It's a safe haven that allows you to build your nest egg in an insured manner.

 

CERTIFICATES

6-84 Month Certificate

  • $1,000 minimum
  • Dividend paid monthly ($10,000 required for monthly dividend check)

IRA Certificate

  • $1,000 minimum for 6-84 months
  • Dividend paid monthly ($10,000 required for monthly dividend check, if age requirement is met)
  • Dividend is tax deferred until withdrawn

Applies To All Certificates Above:

  • Receive quarterly statements
  • Dividends are based on the daily balance method
  • Renewal options available
  • Current rates and Annual Percentage Yield (APY) are available by calling 800-228-6420 (press 2).
  • Penalties may apply.
  • If dividends are paid instead of compounded, the APY will be lower than quoted by telephone.

 

INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)

  • Click here to visit our IRA Service Center.
  • Contribution limits are $5,000 for those under 50 years old, and $6,000 for those over 50.
  • IRA dividends are paid and compounded monthly based on your average daily balance.
  • Interest earned is tax deferred.
  • No front end charges or service charges
  • No withdrawal penalties on principal. (Except those imposed by the Federal Government.)
  • Interest is paid on the balance for every day the funds are in the account.
  • A supplement to your regular retirement.
  • Easy payroll deductions.
  • Quarterly statement provided.
  • Spousal accounts also offered.
  • Receive monthly or quarterly checks when you reach the optional age of 59 1/2 or the required age of 70 1/2.
  • Federally insured separately from other accounts up to $350,000.

 

Traditional IRAs

Consult your tax advisor for full details

  • Contribution limits are $5,000 for those under 50 years old, and $6,000 for those 50 and over.
  • Contributions may be tax deductible*
  • Earnings accrue tax-deferred
  • Fund withdrawals can begin at age 59-1/2
  • Funds may also be withdrawn for first-time home purchase, education expenses or medical expenses**
  • Federally Insured

 

Roth IRAs

Consult your tax advisor for full details

  • Contribution limits are $5,000 for those under 50 years old, and $6,000 for those 50 and over.
  • Contributions are not tax deductible*
  • Earnings accrue tax-free
  • No mandatory withdrawal at age 70-1/2
  • Funds may also be withdrawn for first-time home purchase, education expenses or medical expenses**
  • Roth funds may be left tax-free to your heirs**
  • Federally Insured

 

Coverdell Education Savings (formerly the Education IRA)

Consult your tax advisor for full details

  • Contribute up to $2,000 annually*
  • Contributions are not tax deductible*
  • Earnings accrue tax-free
  • Funds may be used for : College or vocational school tuition, housing, books & supplies (such as a computer)
  • Funds may also be used for some primary and secondary education expenses, such as: Tuition, School uniforms, Supplies (such as a computer)**
  • Federally Insured

*Subject to earned income guidelines. Consult your tax advisor for full details. **Consult your tax advisor for full details.

Traditional and Roth IRAs are insured to $350,000. This includes $250,000 coverage provided by the NCUA, a federal government agency, and an additional $100,000 coverage by the Excess Share Insurance Corporation (ESI).

Click here for current rates.