CDs & IRAs

Certificates of Deposit (CDs)

Certificates of deposit (CDs) are considered one of the safest savings options. A CD is a savings account that pays a fixed interest rate for a specified time on a fixed amount of funds. Typically, the longer you save, the better the rate. CDs are a great way to earn extra interest on funds earmarked for future use.

CDs are FDIC-insured when purchased from an FDIC-insured financial institution.

CDs give you the security of a fixed rate, and you choose the terms that help meet your savings goals. Start saving for your next adventure and lock in your CD interest rate.

Individual Retirement Account (IRA)

The earlier you start saving for retirement, the better and Individual Retirement Accounts (IRAs) are a great way to save for your future. Whether you are just starting to save or want to supplement your current employer-sponsored retirement plan, an IRA is a great way to plan ahead and started saving for your future.

Benefits Include:

Funds become available starting at age 59 ½
Contributions may be tax deductible*
Both Traditional and Roth Available
Terms from 6 months to 60 months
$1,000 opening deposit
No quarterly or annual fee

*Consult your tax advisor.

Learn More About IRAs

What is an IRA?

IRAs are a type of savings account designed to help you save for retirement and offers tax advantages.* We offer both traditional and Roth IRAs to help you plan for your future financial needs.

Why should I invest in an IRA?

Financial experts estimate that most people will need up to 85% of their current income in retirement. An employer-sponsored retirement plan, like a 401(k), might not be enough to get you to that level. Luckily, you can contribute to both a 401(k) and an IRA.

What’s the difference between a Traditional and Roth IRA?

There are a few differences between these accounts, but the main difference has to do with the tax benefit. A Traditional IRA gives you a tax deduction on contributions for the year they were made but you’ll pay taxes on the distributions in retirement. A Roth IRA gives no tax deduction when you make contributions, but qualified distributions in retirement are not taxed. Please consult with your tax advisor for further clarification.