Individual Retirement Accounts (IRA)

Traditional

• no minimum balance to open account
• quarterly statements
• no monthly service charge
• tax-deferred until withdrawal
• contributions are tax-deductible
• interest is compounded daily and paid quarterly

Roth

• no minimum balance to open account
• quarterly statements
• no monthly service charge
• tax free withdrawal if certain conditions are met
• interest is compounded daily and paid quarterly

Coverdell Education Savings Accounts (CESA)

• no minimum balance to open account
• quarterly statements
• no monthly service charges
• tax deferred
• no penalty for early withdrawal if for qualified education expense
• interest is compounded daily and paid quarterly

Please see on Current Rates for more information.