Individual Retirement Accounts

Start Building the Life You Want—One Contribution at a Time

Explore IRA options designed to help you grow your savings, reduce your taxes, and retire with confidence.

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Traditional and Roth IRA options

No setup charges
No monthly or annual maintenance fees

$7,000 contribution limit per year
Additional $1,000 “catch-up” contribution allowed for ages 50+

Funds can be used to invest in CDs within IRA
$500 minimum deposit to open

It’s never too soon (or too late) to start saving for retirement. We’ll find a plan that works for you.

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Compare IRAs

When do you want to enjoy your tax advantage? A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.

Traditional IRA

No income limits to open
No minimum contribution requirement
Contributions are tax deductible on state and federal income tax*
Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
Withdrawals can begin at age 59½
Early withdrawals subject to penalty**
Mandatory withdrawals at age 72

Roth IRA

Income limits to be eligible to open Roth IRA***
Contributions are NOT tax deductible
Earnings are 100% tax free at withdrawal*
Principal contributions can be withdrawn without penalty*
Withdrawals on interest can begin at age 59½
Early withdrawals on interest subject to penalty**
No mandatory distribution age
No age limit on making contributions as long as you have earned income

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*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.