CDs & IRAs
Certificates of Deposit – CDs
Our Certificates of Deposits or CDs are time deposits with a guaranteed rate of return on an insured investment. Various terms are offered to match your savings goals. Minimum opening deposit is $500.00.
Terms Offered:
- 91-day term
- 182-day term
- 9-month term
- 12-month term
- 18-month term
- 30-month term
- 60-month term
Jumbo CDs are a certificate of deposit with a larger opening deposit of $100,000.00 or more. Depositors may receive higher rates with variable terms.
CDs work best for people who are locking up funds for a future purchase, protecting wealth for several years, or if they are using them for pre-invested funds. To open a certificate of deposit, please call or visit your local branch to get started.
Individual Retirement Accounts – IRAs
Individual retirement accounts, or IRAs, offer a safe and convenient way to save for retirement. We offer Traditional and Roth IRAs, each offering different tax advantages. The minimum opening deposit is $500.00.
Terms Offered:
- 12-month term
- 18-month term
- 30-month term
- 60-month term
These accounts have penalties for early withdrawal. A traditional IRA allows individuals to direct pretax income toward investments that can grow tax deferred. A Roth IRA is an individual retirement account that allows a person to set aside after-tax income up to a specified amount each year. Both earnings on the account and withdrawals after age 59 ½ are tax-free.
For assistance in choosing which IRA type is best for your financial needs, please call or visit your local branch to get started.