Individual Retirement Accounts
Secure your future with tax-advantaged retirement savings
Plan Your Retirement with Confidence
An IRA can prepare you for a secure retirement, offering greater returns than standard savings and a variety of tax advantages and terms to fit your needs. So whether you plan to travel, start a new hobby, or just hang out with the grandkids, we can help you achieve financial security.
Choose the Right IRA for Your Retirement Goals
We offer several IRA options to help you save for retirement with tax advantages
Traditional IRA
Tax-deductible contributions to grow your retirement savings.
- Tax-deductible contributions
- Tax-deferred growth
- Taxed only upon withdrawal
Why Choose Our IRAs?
Our Individual Retirement Accounts offer numerous benefits to help you save for your future:
Competitive Rates
Enjoy competitive interest rates to maximize your savings
FDIC Insured
Rest assured with FDIC insurance up to applicable limits
Expert Guidance
Receive personalized advice from our retirement specialists
IRA Comparison
Compare our IRA options to find the right fit for your retirement strategy
| Features | Traditional IRA | Roth IRA | SEP IRA |
|---|---|---|---|
| Tax Benefits | Tax-deductible contributions, tax-deferred growth | Tax-free growth and qualified withdrawals | Tax-deductible contributions, tax-deferred growth |
| 2023 Contribution Limits | $6,500 ($7,500 if age 50+) | $6,500 ($7,500 if age 50+) | Up to 25% of compensation or $66,000 |
| Income Limitations | None for contributions | Phase-out begins at $138,000 (single), $218,000 (married) | None |
| Required Minimum Distributions | Required at age 73 | Not required during owner's lifetime | Required at age 73 |
| Early Withdrawal Penalties | 10% penalty before age 59½ | 10% penalty on earnings before age 59½ | 10% penalty before age 59½ |
How to Open Your IRA
Getting started with your retirement savings is simple
Choose Your IRA
Select the IRA that best fits your retirement goals and tax situation.
Apply Online
Complete our simple online application to start the process.
Fund Your Account
Make your initial contribution through various deposit methods.
Manage & Grow
Track your progress and set up regular contributions to grow your retirement savings.
Frequently Asked Questions
Get answers to common questions about our retirement accounts
What is the difference between a Traditional and Roth IRA?
A Traditional IRA offers tax-deductible contributions with tax-deferred growth, and you pay taxes when you withdraw funds in retirement. A Roth IRA uses after-tax contributions, but qualified withdrawals in retirement are completely tax-free.
How much can I contribute to an IRA?
For 2023, you can contribute up to $6,500 to Traditional and Roth IRAs, or $7,500 if you're age 50 or older. SEP IRAs allow contributions of up to 25% of compensation or $66,000, whichever is less.
Can I have multiple IRAs?
Yes, you can have multiple IRAs, including both Traditional and Roth accounts. However, your total contributions across all your IRA accounts cannot exceed the annual limit.
When can I withdraw from my IRA without penalties?
Generally, you can withdraw from your IRA without penalties after age 59½. However, Roth IRAs also require the account to be open for at least 5 years for tax-free withdrawals of earnings. There are exceptions for certain situations like first-time home purchases or qualified education expenses.
What are Required Minimum Distributions (RMDs)?
RMDs are minimum amounts that retirement account owners must withdraw annually starting at age 73 (as of 2023) for Traditional and SEP IRAs. Roth IRAs do not require RMDs during the owner's lifetime.
Ready to secure your retirement?
Start building your retirement savings today with our tax-advantaged IRAs.
