Traditional IRA
You may contribute up to $5,000 in any year in which you have earned income and are younger than 70 ½, and may make additional catch up contributions of up to $1,000 a year if you are 50 or older. Your contributions may be tax deductible and tax on your earnings will be deferred until withdrawn. You must begin to take required minimum distributions from your Traditional IRA once you reach the age of 70 ½. Your Traditional IRA investment may be made in a variable rate account or a fixed rate 30-month certificate of deposit account, or a combination of those accounts.

Roth IRA
You may contribute up to $5,000 in any year in which you have earned income, regardless of your age, and may make additional catch up contributions of up to $1,000 a year if you are 50 or older. While Roth IRAs do not allow for tax-deductible contributions, your earnings are tax-free and there is no requirement for minimum distributions at age 70 ½. Your Roth IRA investment may be made in a variable rate account or a fixed rate 30-month certificate of deposit account, or a combination of those accounts.

Coverdell Education Savings Account
The Coverdell Education Savings Account allows individuals to save and pay for qualified education expenses, from grammar school through college, on a tax-favored basis. Though contributions are not tax deductible, earnings are distributed tax-free if properly used for qualified educational expenses. You may contribute up to $2,000 a year for any child younger than age 18. We offer 30-month certificates of deposit for Coverdell Education Savings Accounts.