Traditional IRAs

An Individual Retirement Account (IRA) is a long-term savings program designed to encourage retirement saving by individual taxpayers that may be tax deductible. Make sure to check with your tax adviser to decide on the best IRA investment option for you.

Traditional IRAs

How does a Traditional IRA work?

We offer a variety of dividend rates and terms. Choose the IRA daily account – you can add to your account at any time (up to IRS maximums), or choose a 12, 24, 36, 48 or 60 month certificate to earn a fixed dividend rate.

You are eligible to contribute to a Traditional IRA as long as you (or your spouse is filing a joint tax return) earn compensation from employment.

Required Minimum Distribution starts at age 73.

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Roth IRAs

A Roth IRA is an individual retirement account named for the late Senate Finance Committee Chairman William Roth, Jr. This type of IRA offers different tax incentives than a Traditional IRA to boost your retirement savings.

Roth IRAs

How does a Roth IRA work?

Unlike Traditional IRAs, contributions to a Roth IRA are never tax-deductible. But the money in your Roth IRA can be withdrawn tax-free at any time. And if you qualify, you can withdraw the earnings tax-free too. Money contributed has already been taxed. So, the principle amount is not subject to taxes or penalties in the future, as long as you stay within the contribution guidelines.

Choose the Roth IRA daily account – you can add to your account at any time (up to IRS maximums) or choose a 12, 24, 36, 48 or 60 month certificate to earn a fixed dividend rate.

No distribution requirements.

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Frequently Asked Questions

Have more questions about how Traditional IRAs and Roth IRAs work, and what you can do with them? Take a look at our Frequently Asked Questions page to learn more

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