Skip to content

Rates

You’ve earned the right to enjoy a great retirement. Start saving for it today with special tax advantages.*

Key Features

  • Tax Advantages*
  • Competitive Dividends
  • No Setup or Maintenance Fees
  • Tax-advantaged retirement savings*
  • Earn competitive dividends above standard savings rates on balances over $100
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • $5,500 contribution limit per year (as of 2018)
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase share certificates within IRA
  • $100 minimum deposit to open

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contribution limits apply*
  • 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 59 ½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70 ½

 Roth IRA

  • Contribution limits apply*
  • 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  • Principal contributions can be withdrawn without penalty**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 dividends can begin at age 59 ½
  • Early withdrawals on dividends subject to penalty***
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

Resources


*Refer to the IRS website for current limits.

**Subject to some minimal conditions. Consult a tax advisor.

***Certain exceptions apply, such as healthcare, purchasing first home, etc.

College is costly — but a little pre-planning can go a long way. Set aside savings for your child’s college education in a CESA, where your dividends will grow tax-free.*

Withdrawals are tax-free and penalty-free when used for qualified education expenses* before he or she turns 30.** As an added bonus, there’s no penalty to transfer the account to another member of the family. 

  • Set aside funds for your child's education
  • No setup or annual fee
  • Dividends grow tax-free*
  • Withdrawals are tax-free and penalty-free when used for qualified education expenses*
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply**
  • Contributions are not tax deductible
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time he or she turns 30***
  • The ESA may be transferred without penalty to another member of the family
  • $100 minimum deposit to open

Resource

*Qualified expenses include tuition and fees, books, supplies, board, etc.

**Earnings withdrawn after he or she turns 30 are subject to income tax and a 10% penalty.

***Consult your tax advisor to determine your contribution limit.

*Consult a tax advisor.