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INDIVIDUAL RETIREMENT ACCOUNT (IRA)

Start saving today for your retirement.

An IRA may be the right investment option to help you meet your retirement goals.

Features of Individual Retirement Accounts (IRAs)

  • Traditional IRA and Roth IRAs available
  • Investment options include an IRA Share Account and Certificates of Deposit
  • Individual Retirement Accounts insured separately to $250,000
  • No monthly fees
  • No minimum balance
CALCULATORS
Account TypeMinimum Average Daily Balance to Earn stated APYRateAPY*
Prime Share Account$100.000.05%0.05%
Capital Account$1,000.000.10%0.10%
Vacation Club Accountnone0.05%0.05%
Christmas Club Accountnone0.05%0.05%
IRA Share Accountnone0.20%0.20%
Health Savings Accountnone0.20%0.20%


Last Dividend Declaration Date: 09/30/24
*APY is Annual Percentage Yield. Your interest rate and annual percentage yield may change after account is opened. Prime Share Account minimum balance is $5.00. Fees may reduce earnings. Please contact any branch office for further information concerning our Truth-In-Savings Disclosure.
CERTIFICATES OF DEPOSIT
Term		Minimum Opening DepositInterest RateAPY*
3 Month$500.000.15%0.15%
6 Month$500.003.94%4.00%
12 Month$500.004.19%4.25%
18 Month$500.003.46%3.50%
24 Month$500.003.50%3.55%
30 Month$500.003.50%3.55%
42 Month$500.000.65%0.65%


Effective Date: 11/21/24 through 11/27/24. Stated Interest Rates and APYs for terms of 12 months through 42 months are applicable to IRA Certificates of Deposit as well.
*APY is Annual Percentage Yield. A $500 minimum opening deposit is required to open and earn the advertised APY. The APY is based on an assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. A penalty may be imposed for early withdrawal. Please contact any branch office for further information concerning our Truth-In-Savings Disclosure.
A Traditional IRA allows you to save for retirement with tax-deferred earnings and the possibility of tax-deductible contributions.
A Roth IRA is an individual retirement arrangement that allows you to make after-tax (nondeductible) contributions with the potential to take completely tax-free deductions.
You can withdraw the money anytime, subject to income tax. An IRS penalty tax also may apply unless you are age 59.5 or older. If you are age 73 or older, you must withdraw a required minimum amount each year to avoid penalty taxes.
You can withdraw the money from your Roth IRA anytime. Depending on when you take the money out and what type of Roth IRA assets (contributions, conversion or rollover amounts, or earnings) are included in the distribution, you may be subject to income tax and an IRS penalty tax. But if you have a "qualified distribution" all assets are tax and penalty free.
You can contribute to your Roth or Traditional IRA until the due date for filing your federal income tax return for the year (generally April 15th).
Yes. But the contribution amounts that you make to both types of IRAs for the same year cannot total more than your annual contribution limit.

 

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Scammers are contacting people spoofing our phone number 401-751-7440. The caller is stating they are our fraud department and there are large charges on their account. The caller is stating the only way to stop the charges is to provide the last six digits of their debit card, all of their account balances, and their name. We will never call you and ask for this information. Contact us at our known telephone number or visit a branch location with any questions or concerns. If you have provided any information about your debit card to the scammer and we are closed, please report the card stolen to 833.337.6075.