Individual Retirement Accounts

Individual Retirement Accounts (IRA) Shares

We offer IRA’s that meet your needs!

IRA’s are the smart investment vehicle for your retirement. They provide a disciplined method of saving for the future. They also enjoy tax advantages, which allow your money to grow faster and greater than non-tax-advantage accounts.

· No minimum balance is required

· No monthly fees

· Contributions may be made in "lump sums" or by regular deposits to the IRA throughout the year

· Dividends are compounded and paid quarterly

Traditional IRA’s are accounts that allow you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax deductible in the year they are made. Penalty-Free early withdrawals are possible for certain education expenses, first-home purchases and medical expenses. Consult your tax professional for applicable laws.

The Roth IRA is an account that features tax-free withdrawals for certain distribution reasons after a five-year* holding period. Since Roth IRA contributions are non-deductible and taxed in the year they are earned, members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a Traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70 ½.

*Varies for IRAs converted to Roth IRAs.

The Education IRA is an account that features tax-free withdrawals for a child’s higher education expenses. Contributions are non-deductible, therefore unlike the Traditional IRA, qualified distributions from an Education IRA are penalty free and tax-free.