CDs and IRAs

Certificate of Deposit
  • Variety of terms
  • Interest payout options
  • No Service Charge
Traditional or Spousal IRA
  • Interest tax-deferred until payout
  • Fixed-rate retirement account
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  • Contribution tax-deductible for qualified individuals
  • Up to $6000 contribution if under age 50
  • Up to $7000 contribution for age 50 and greater
  • Withdrawals can begin at age 59 1/2
  • No setup or administration fees
Roth IRA
  • Interest tax-free if certain rules are met
  • Fixed-rate retirement account
  • Minimum based upon investment vehicle chosen
  • No tax-deductibility of contributions
  • Up to $6000 contribution if under age 50
  • Up to $7000 contribution for age 50 and greater
  • Withdrawals can begin after satisfying a five-year waiting period and after age 59 1/2 
  • No required minimum distributions ever
  • No setup or administration fees
Coverdell Education Savings
  • Available to anyone under 18
  • Interest tax-free as long as it is spent for educational purposes
  • Annual contributions up to $2,000
  • No setup or administration fees