Individual Retirement Accounts

It's never too late to begin planning and saving for your retirement. Individual Retirement Accounts are a simple and convenient way to start saving for the future.

individual retirement account

IRA Options

  • Traditional IRA
  • Roth IRA

Variable Rates

  • Funds are invested in a Personal Savings account
  • Interest compounds daily and is credited monthly
  • Deposits can be added at any time
  • The rate is variable and is subject to change daily

Fixed Rates

  • Funds are invested in a Certificate of Deposit (CD)
  • Rate is determined at account opening and is fixed for the initial term of the CD. The rate may change upon maturity.
  • Interest is compounded and credited quarterly

Maximum Annual Contributions

Under the age of 50

2023 Tax Year - $6,500.00
2024 Tax Year - $7,000.00

Age 50 and Over

2023 Tax Year - $7,500.00
2024 Tax Year - $8,000.00

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