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Retirement Accounts
Our Trust Department offers a broad range of FDIC insured retirement savings options for individuals. Our Variable IRA CD earns a competitive variable rate of interest and APY (Annual Percentage Yield) that is adjusted quarterly. There is no required minimum balance to open this type of account and there is no limitation on the number of deposits that can be made. This instrument has a term of 18 months.
Our fixed rate Certificate of Deposit IRA offers you a competitive rate and APY. You may purchase this instrument in terms ranging from 6-120 months. The minimum deposit to open a fixed rate Certificate of Deposit IRA is $500 and no additional deposits can be made prior to maturity.
Each Certificate of Deposit has its interest compounded daily and paid either monthly or quarterly. Each is automatically renewable.
These Retirement Savings Accounts are great ways to insure your future and help save on your taxes too. Each IRA is subject to penalty for early withdrawal. The IRS has an established maximum contribution limit for all IRA's.
(See Notes 1 and 4)
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