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Secure Tomorrow, Starting Today—Grow with an IRA That Works for You
So you can check all the items off your bucket list later.
Competitive Interest
Tax Advantages*
Both Traditional & Roth IRA's Available
No Setup or Maintenance Fees
Individual Retirement Account (IRA) Details
- Save for retirement with tax advantages*
- Competitive interest above standard savings rates
- Traditional and Roth IRA options
- No setup fees
- No monthly or annual maintenance fees
- Annual contribution limits apply (see current contribution limits; $7,000 as of 2024)*
- Additional $1,000 "catch-up" contribution allowed for ages 55+
- $50 minimum deposit to open
Ready to Get Started?
Traditional vs. Roth
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 | Roth IRA | |
|---|---|---|
| Income Limits | No income limits to open | Income limits to be eligible to open Roth IRA2 |
| Minimum Contribution | No minimum contribution requirement | Contributions are NOT tax deductible |
| Tax Savings | Contributions are tax deductible on state and federal income tax* | Earnings are 100% tax free at withdrawal* |
| Withdrawal | Earnings are tax deferred until withdrawal (when usually in lower tax bracket) | Principal contributions can be withdrawn without penalty* |
| Withdrawal Age Requirement | Withdrawals can begin at age 59½ | Withdrawals on interest can begin at age 59½ |
| Early Withdrawals | Early withdrawals subject to penalty1 | Early withdrawals on interest subject to penalty1 |
| Mandatory Withdrawal | Mandatory withdrawals at age 73 | No mandatory distribution age |
| Contribution Age Requirement | — | No age limit on making contributions as long as you have earned income |
* Subject to some minimal conditions. Consult a tax advisor.
1 Certain exceptions apply, such as healthcare, purchasing first home, etc.
2 Consult a tax advisor.
