Individual Retirement Account

Traditional IRA

A Traditional IRA is a special tax deferred savings plan authorized by the Federal Government to encourage you to accumulate money for retirement. Individuals who are under 701/2 years of age for the entire tax year and have earned income, is eligible to establish or contribute to a traditional IRA.

• $500.00 minimum balance to open

• Interest will be compounded daily

• Interest will be credited to your account quarterly

• Interest rate and annual percentage yield may change at any time

• 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.

Contact our New Accounts Department for further information on terms, rates, interest payments, contributions, and distributions on all IRAs.

For legal and tax advice please contact your tax advisor.

Roth IRA

A Roth IRA allows only nondeductible contributions but features tax-free withdrawals for certain distribution reasons after a five-year holding period. The term “tax-free” means free from federal income taxes. There are two requirements for eligibility to contribute to a Roth IRA: you must have earned income and your modified adjusted gross income cannot exceed certain limits.

• $500.00 minimum balance to open

• Interest will be compounded daily

• Interest will be credited to your account quarterly

• Interest rate and annual percentage yield may change at any time

• 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.

Contact our New Accounts Department for further information on terms, rates, interest payments, contributions, and distributions on all IRAs.

For legal and tax advice please contact your tax advisor.