CDs & IRAs

Certificate of Deposit (COD)

  • Set aside your funds for future savings goals.
  • Fixed rates
  • Choose your terms (30 days – 60 months)
  • Requires $1,000 deposit to open
  • Early withdrawal penalty may apply:
CD TermPenalty
30 Days - 6 Months All interest on the amount withdrawn
12 Months 180 days interest on the amount withdrawn
24 - 36 Months 365 days interest on the amount withdrawn
48 - 60 Months 730 days interest on the amount withdrawn

We will charge the penalty first against any interest in the account, and any excess will be deducted from the amount withdrawn.
Fees may reduce earnings on accounts.

View CD Rates

Individual Retirement Account (IRA)

Traditional & Roth IRAs

Product

Traditional IRA

Roth IRA

What’s the difference?

Tax-deductible contributions; earnings are taxed when withdrawn.

Withdrawals are penalty free beginning at age 59 ½.

Distributions must begin at age 70 ½.

No tax break for contributions; earnings not taxed when withdrawn.

Contributions can be withdrawn after 5 years with no tax penalty.

No required distributions at any age.

Terms

12 Months

24 Months

48 Months

No term or maturity date

Benefits

Interest earned is tax-deferred.

Contributions may qualify for a tax credit.

Interest earned is tax-deferred.

Contributions may qualify for a tax credit.

Contribution

Eligible to contribute if you are under 70 ½ and earn compensation.

Eligible to contribute if you earn compensation.

Still unsure which retirement plan is right for you? Consult with your tax advisor. 

For more information, visit www.irs.gov

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