Rates

Setting aside funds in an IRA can help give you the retirement you deserve. Start with just a $100 deposit.

Key Features

Competitive Dividends

Competitive Dividends

Tax Advantages*

Tax Advantages*

  • Competitive dividends above standard savings rates
  • Traditional and Roth IRA options
  • Coverdell ESA available
  • One-time $3 setup fee
  • $9 annual maintenance fee
  • $5,500 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDs within IRA
  • Funds insured up to $250,000 by ASI
  • $100 minimum deposit to open

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

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 70 ½

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59 ½
  • Early withdrawals on interest subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income 

1Subject to some minimal conditions. Consult a tax advisor.

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.

We also offer a Coverdell ESA to ease the transition into college for you, your kids, and your finances. 

  • Set aside funds for your child's education
  • No setup or annual fee
  • Dividends grow tax-free
  • Withdrawals are tax-free and penalty-free when used for qualified education expenses1
  • Designated beneficiary must be under 18 when contributions are made
  • To contribute to an ESA, certain income limits apply2
  • Contributions are not tax deductible
  • $2,000 maximum annual contribution per child
  • The money must be withdrawn by the time he or she turns 303
  • The ESA may be transferred without penalty to another member of the family
  • $100 minimum deposit to open

1Qualified expenses include tuition and fees, books, supplies, board, etc.

2Consult your tax advisor to determine your contribution limit.

3Those earnings are subject to income tax and a 10% penalty.

*The information in the page above is for informational purposes only and should not be construed as tax advice. Please consult with a tax advisor for questions and information regarding taxes and to determine if you would benefit from tax savings.