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Individual Retirement Accounts (IRAs)


Safe, steady growth
Tax advantages

Now is the best time to plan a secure, comfortable retirement. What better way to do so than with a FDIC insured, tax advantaged Individual Retirement Account? Many options, competitive interest rates, and safety are what make your IRA grow. Let us help you grow your retirement portfolio to pave the way to a solid future.


Roth IRA |

A Roth IRA is a non-deductible account that helps you save for retirement while earning tax free interest. You're eligible if you or your spouse has earned income and if your modified adjusted gross income (MAGI) falls within the legal limits.

  • Invest after tax dollars
  • No tax deduction on contributions
  • Tax free distributions when used for a qualifying reason after 5 years
  • No manditory distributions
  • Tax free earnings

Coverdell Education Savings Account (CESA) |

A Coverdale Education Savings Account is a government approved investment vehicle for a child's education. With tax benefits, you can be sure all your contributions will go to the child's education expenses. You may open an account for any child under age 18, and make annual contributions until the child's 18th birthday.

  • Invest after tax dollars
  • No tax deduction on contributions
  • Tax free distributions when used for a qualifying education expenses
  • Tax free earnings
  • Can be used for K-12 as well as higher education
  • Responsible individual (such as parent) monitors the account
  • No annual fee

Simplified Employee Pension (SEP) |

A Simplified Employee Pension (SEP) plan allows any employer to make tax deductible contributions to their employees retirement accounts. The employer can contribute a percentage of each eligible employee's compensation. Any business owner, including sole proprietors and self employed individuals, are eligible to have a SEP.

  • Tax deduction for employers
  • Tax deferred earnings for employees
  • Equal percentage of wages is contributed for eligible employees
  • Penalty free distributions begin at age 59½
  • Mandatory distributions begin at age 70½
  • Horizon Rate Bump feature
  • No annual fee

Traditional IRA

A Traditional IRA allows you to defer taxes on your earnings until you withdraw them. Contributions are fully or partially tax deductible depending on your tax filing status, modified adjusted gross income (MAGI), and your participation in an employer maintained retirement plan. You're eligible to open a Traditional IRA if you or your spouse has earned income and the owner of the IRA is under age 70½

  • Potentially tax deductible contributions
  • Tax deferred earnings
  • Penalty free distributions begin at age 59½
  • Mandatory distributions begin at age 70½
  • Horizon Rate Bump feature
  • No annual fee