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Individual Retirement Accounts (IRAs)

An Individual Retirement Account (IRA) is a great way to save for your future. Choose the IRA that best fits your personal needs.

We offer three main types of IRAs:

  • Traditional
  • Coverdell Education Savings Account (CESA)
  • Roth IRA


Contact us to learn more about setting up your own IRA, or stop by one of our locations to talk with a banker.

Amounts withdrawn from IRAs may be subject to bank and/or IRS penalty. Please consult a tax advisor to determine if the earnings would be taxable or not.

Traditional IRA

A Traditional IRA is most commonly used to save money for your retirement, educational expenses or a first-time home purchase.

  • No fees to maintain your account
  • No fees for internal transfers or rollovers at maturity
  • Penalty-free withdrawals for college expenses or purchase of your first home*

*Any money withdrawn is still taxable as regular income and may be subject to bank penalty.

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Coverdell Education Savings Account (CESA)

A Coverdell Education Savings Account (CESA) is a great way to save for any educational purpose. Anyone can contribute to a CESA, including students, parents, grandparents, relatives, friends or even an employer.

  • Educational uses are tax-free
  • Contribute up to a maximum amount allowed by law per child, per year. Funds must be redeemed before the child reaches age 30.
  • No fees to maintain your account
  • No fees for transfers or rollovers at maturity

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Roth IRA

The Roth IRA is a secure way to save for retirement. All your withdrawals are tax-free when retirement age is reached.

  • You select the term of the IRA
  • No fees to maintain your account
  • No fees for transfers or rollovers at maturity
  • Penalty-free withdrawals for college expenses or purchase of your first home*

*Any money withdrawn is still taxable as regular income and may be subject to bank penalty.

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