CD / IRA's

IRA (Individual Retirement Accounts)

An individual retirement account (IRA) is a savings program that allows employed members or spouses to set aside money for retirement. Contributions may be made by deduction from your paycheck or you can make the contribution yourself. IRA contributions may qualify as deductions on federal income tax returns. Dividends earned on IRAs are tax deferred until withdrawn. Withdrawals can be made at any time after a member reaches age 59 1/2 without a penalty; however, penalties will be assessed for earlier withdrawals by the Internal Revenue Service under most conditions. There are certain penalty-free distributions available.

*Tax laws limit the annual contribution depending upon your income level.

Roth IRA and Education IRA*

The Roth IRA and the Education IRA feature tax-free withdrawals under certain criteria, effective January 1, 1998. That means the money you withdraw is yours and is excluded from income tax returns. That means both of these new IRAs have nondeductible contributions but offer tax-deferred earnings. IRA products can help you save for the future and are easily established.

*Tax laws limit the annual contribution depending upon your income level.


Share Certificates

  • 6 month, $1,000 minimum
  • 12 month, $1,000 minimum
  • 18 month, $1,000 minimum
  • 24 month, $1,000 minimum
  • 36 month, $1,000 minimum
  • 48 month, $1,000 minimum
  • 60 month, $1,000 minimum


Money Market Accounts 

 

  • $2,000 minimum