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Individual Retirement Accounts
Individual Retirement Accounts (IRAs)
It’s easier to save and plan for the future when you invest in accounts with tax benefits – Individual Retirement Accounts. IRAs provide a worry-free way to save now for a worry-free, relaxing retirement. All IRAs are subject to Internal Revenue Service rules and penalties in addition to bank terms.
Traditional IRA
With a Traditional IRA, you can defer taxes on your earnings until they are withdrawn. Plus if you qualify, your contribution may be tax-deductible. Consult your tax advisor for more information.
Roth IRA
Take advantage of tax-free earnings as they accumulate or when you withdraw with a Roth IRA. You must maintain the account for at lease five years and be at least 59 and-a-half years old to withdraw funds from this type of IRA. Consult our useful Retirement Planner calculator to calculate possible investment scenarios.
Coverdell Education Savings Account
Use the Coverdell Education Savings Account to save for your children’s educational expenses. This investment account provides tax-free distributions for qualified school and college costs. The Coverdell Education Savings Account was formerly known as an Education IRA.
