Individual Retirement Account (IRA) Savings
For complete listing of services, rates, fees, and restrictions, please contact any customer service representative.
Explore IRA Savings Accounts
IRA Savings
| Opening Deposit |
Minimum Balance |
Monthly Service Fee |
Interest |
|---|---|---|---|
| $1,000 | $200 | $2 / Quarter $0 |
Yes |
- Quarterly account service charge $2.00 (*To avoid quarterly maintenance fee, maintain a minimum daily balance of $200.00).
- Frequency of rate changes: We may change the interest rate on your account at any time.
- Determination of rate: At our discretion, we may change the interest rate on your account.
- Compounding and crediting frequency: Interest will be compounded daily and credited quarterly.
- Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- Accrual of interest on non-cash deposits: Interest accrues on your daily available balance.
- If you close your account before interest is credited, you will not receive the accrued interest.
- Account closing fee $25.00, if closed within 181 days of opening.
- Tax-advantaged account intended for saving for retirement.
- For additional fees, see Miscellaneous Fees and Charges.
Regular IRA
| Opening Deposit |
Interest |
|---|---|
| None | Yes |
- Contributions may be tax deductible depending on your participation in a qualified retirement plan and on your adjusted gross income.
- No IRS penalty for distributions on death, disability, or first-time home buyers.
- For additional fees, see Miscellaneous Fees and Charges.
Education IRA
| Opening Deposit |
Interest |
|---|---|
| None | Yes |
- Distributions are tax-free if taken as needed for qualified higher education expenses before the student reaches age 30.
- Earnings grow tax-free.
- For additional fees, see Miscellaneous Fees and Charges.
Roth IRA
| Opening Deposit |
Interest |
|---|---|
| None | Yes |
- Contributions may continue after age 72 as long as you have earned income.
- Earnings are tax-free after five tax years if you are age 59 ½ or older, or if you are a first-time homebuyer.
- No IRS penalty for distributions on death, disability, or first-time home buyers.
- For additional fees, see Miscellaneous Fees and Charges.