Individual Retirement Account:

Our IRA’s are fixed rate interest bearing account tied to maturity.

Account specifics:

• $500 opening balance requirement
• Roth IRA - a nondeductible account that features tax-free withdrawals for certain distribution reasons after a five year holding period.  Since Roth IRA contributions are nondeductible and taxed in the year they are earned, people who expect to be in a higher tax bracket when they retire may benefit more from these accounts than a traditional IRA.
• Traditional IRA - an account, which allows you to defer taxes on your earnings until they are withdrawn.  Certain contributions are tax deductible in the tax year for which they are made.
• Coverdell (Education) IRA - a nondeductible account that features tax-free withdrawals for a very specific purpose - a child’s higher education expenses.