Fixed Rate Certificate of Deposit (CD)

Great low balance entry.

Overview
 
$500 minimum opening balance, competitive rates.

Features
  • $500 minimum opening balance
  • Earns a competitive fixed interest rate
  • Direct deposit or compound interest payment option
  • Early withdrawal penalty may apply
  • ​Terms available: 3, 6, 12 ,18, 24, 36, 48, and 60 months

Traditional Individual Retirement Account (IRA)

Tax-deferred investment.

Overview
Tax-advantage arrangement that allows earnings and deductible contributions to grow tax-deferred.

Features
  • Earns a competitive interest rate
  • Earnings grow on a tax-deferred basis
  • Deductible contributions and earnings are subject to federal income tax when withdrawn
  • You must have earned income to contribute
  • Annual contribution limits vary by year and by earned income
  • Compound interest payment
  • Early withdrawal penalty may apply
  • Fixed rate option:
    • $500 minimum opening balance
    • Terms available: 12, 18, 24, 36, 48 and 60 months
  • Variable rate option:
    • $5 minimum opening balance
    • 18-month term
NOTE: Consult a tax advisor regarding the deductibility of interest.

Roth Individual Retirement Account (Roth IRA)

Tax-free investment.

Overview
Unique and exciting savings opportunity that gives you an easy and safe way to plan for your future.

Features
  • Earns a competitive interest rate
  • Contributions are allowed at any age
  • Qualified distributions are tax-free
  • Accumulate earnings on a tax-deferred basis
  • Flexible withdrawal options are available
  • You must have earned income to contribute
  • Annual contribution is dependent on your modified adjusted gross income as determined on your federal income tax form
  • Compound interest payment
  • Early withdrawal penalty may apply
  • Fixed rate option:
    • $500 minimum opening balance
    • Terms available: 12, 18, 24, 36, 48, and 60 months
  • Variable rate option:
    • $5 minimum opening balance
    • 18-month term
NOTE: Consult a tax advisor regarding the deductibility of interest.

Coverdell Education Savings Account

When college is in their future.

Overview
A method to save for a child’s secondary and post-secondary education.

Features
  • Earns a competitive interest rate
  • Available for the benefit of any child under 18 years of age
  • Annual contribution is dependent on your modified adjusted gross income as determined on your federal income tax form
  • All earnings accumulate on a tax-deferred basis and can be withdrawn tax-free to pay for qualified education
  • Compound interest payment
  • Early withdrawal penalty may apply
  • Fixed rate option:
    • $500 minimum opening balance
    • Terms available: 12, 18, 24, 36, 48, and 60 months
  • Variable rate option:
    • $5 minimum opening balance
  • 18-month term
NOTE: Consult a tax advisor regarding the deductibility of interest.