IRAs & HSAs

• Annual maximum contribution amount is based on an individual's age
• Some contributions may be tax deductible (consult a tax advisor)
  
• Possible tax credits to certain individuals (consult a tax advisor)
• Distributions are generally included as income and subject to federal income tax
• Mandatory distributions are required beginning in the year that the IRA holder reaches age 70½
• Dividend earnings are tax deferred
  

Roth IRA

• Annual maximum contribution amount is based on individual's age and income
• Contributions are not tax deductible
• No age restriction on regular contributions
  
• Possible tax credits for certain individuals (consult a tax advisor)
• Dividend earnings from contributions are tax deferred
• Distributions are tax-exempt after a five-year waiting period
• Qualified distributions of earnings are tax exempt
• No mandatory distributions, regardless of age
• Principal amount can be withdrawn tax and penalty free
  

Education IRA 

• Designed to help set aside money for the qualified education expenses of a child, grandchild or eligible beneficiary
• After-tax contributions can be made until the child reaches age 18
• Annual maximum contribution can be made to a single account or multiple accounts designed to benefit same child
• Dividend earnings on contributions are not taxed while they are held in the account
• Distributions for qualified education expenses are tax free
• Dividend earnings are tax free when withdrawn for qualified education expenses
  

• No monthly service charge
• No minimum balance
• Earns dividends
• Unlimited check-writing privileges
• Free VISA Check Card (debit card) with a daily ATM cash limit of $400 and no annual fee
• Unlimited signature-based debit transactions; 10 free monthly PIN-based transactions
  
  View Rates