Retirement Accounts

We can make IRAs easier for you.  Our rates are always competitive and we take the hassle out of managing your accounts by assisting you with your paperwork. We do not charge IRA administration fees and you deal with a local bank representative from start to finish. 

Traditional IRA

• Contributions up to $5000 through 2010 are generally tax deductible
• Catch-up contribution of $1000 is optional if you are at least 50 years of age
• You may save for an IRA through an interest earning Savings Account
• Earnings are taxable at time of withdrawal
• Competitive rates paid on Certificates of Deposit
• Penalty for early withdrawal may apply

Roth IRA

• Contribution (up to $5000) is taxable in the year it is made, but earnings are tax-free after five years if federal guidelines are followed
• Catch-up contribution of $1000 is optional if you are at least 50 years of age
• Penalty for early withdrawal may apply

SEP

• Simplified Employee Pension (SEP) is a tax deferred retirement plan
• Ideal for sole proprietors and small businesses
• Less complicated than many plans and easy to establish
• Contributions directed into a Traditional IRA
• Penalty for early withdrawal may apply