Roth IRA and Traditional IRA
Individuals can choose between a Roth tax-free IRA and a Traditional tax-deferred IRA.
- Available to regular banking customers who maintain a balance of $1,000 or more in Regular Savings, NOW Checking account, or Money Market account.
- No charges for record keeping or reporting
- Funds invested in a two-year certificate with two-year rate guarantee
- Additional deposits to the original certificate are allowed, but do not extend the maturity date
- $500 minimum balance to open
- Additional deposits can be made in multiples of $100
- Subject to IRS rules and regulations
FDIC regulations insure IRAs up to $250,000.