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CDs & IRA Options

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Flexible Solutions Built for Financial Success

What do you envision for your future? Whatever image and dreams you have, you will undoubtedly need the funds to live the life you want. We offer a number of longer-term savings options to help you achieve peace of mind and financial security. All deposits are insured in full by the FDIC and DIF.

Certificate Options and Features

Certificates of deposit (CDs) are the ideal choice if you have excess funds you can part with for period of time to grow them. The rate for a given CD fluctuates by term, the amount of time your deposited funds will earn interest.

Check our CD Rates

Certificate Options and Features

The ideal solution if…

Term of less than 12 months

You have a shorter amount of time to grow your funds.

Term of 12 months or more

You have a longer amount of time to grow your funds.

Required opening deposit

Term of less than 12 months

$2,500

Term of 12 months or more

$500

Interest type

Term of less than 12 months

Simple

Term of 12 months or more

Daily compounded

Early withdrawal penalty

Term of less than 12 months

See Certificate of Deposit Early Withdrawal Penalty Chart 1 

How to open

Term of less than 12 months

Visit one of our branches

Certificate Options and Features
Term of less than 12 monthsTerm of 12 months or more

The ideal solution if…

You have a shorter amount of time to grow your funds.

You have a longer amount of time to grow your funds.

Required opening deposit

$2,500

$500

Interest type

Simple

Daily compounded

Early withdrawal penalty

See Certificate of Deposit Early Withdrawal Penalty Chart 1 

How to open

Visit one of our branches

Simple Interest vs. Compound Interest

  • Simple interest is calculated on the principal amount of the CD.
  • Compound interest is calculated on the principal amount AND any accumulated interest from previous periods.

1 Certificate of Deposit Early Withdrawal Penalties:
3 months interest on terms between 3-11 months
6 months interest on terms between 12-23 months
12 months interest on terms between 24-47 months
24 months interest on terms between 48-60 months
Note: Amount could include principal and interest on the amount withdrawn

IRA Options and Features

Individual retirement accounts, or IRAs, are accounts set up to save specifically for retirement. Each type of retirement account has its own tax benefits, so be sure to also speak with a tax advisor before opening an account.

IRA Options and Features

The ideal solution if…
Roth IRA

You’d rather pay taxes on contributions up front, not in retirement.

Traditional IRA

You’d rather make tax-deductible contributions now and pay tax on withdrawals.

Simplified Employee Pension

You are self-employed and want to set up a retirement account for yourself.

Coverdell Education Savings Account

You want to save for the future education costs of a child or grandchild.

Tax-deductible contributions

Roth IRA

No

Traditional IRA

Yes

Simplified Employee Pension

Yes

Coverdell Education Savings Account

No

Qualified withdrawals

Roth IRA

Tax free after age 59 ½

Traditional IRA

Taxable, and possible penalty if funds are withdrawn prior to age 59 ½

Simplified Employee Pension

Taxable, and possible penalty if funds are withdrawn prior to age 59 ½

Coverdell Education Savings Account

Tax free for qualified beneficiary's educational expenses

Required distribution

Roth IRA

No (though you can make qualified,

tax-free withdrawals after age

59 1/2)

Traditional IRA

Required distribution is dependent on the individual's date of birth, and will start either at age

70 1/2, 72, or 73

Simplified Employee Pension

Required distribution is dependent on the individual's date of birth, and will start either at age

70 1/2, 72, or 73

Coverdell Education Savings Account

By age 30 (unless special needs)

How to open

Roth IRA

Visit one of our branches!

IRA Options and Features

Roth IRATraditional IRASimplified Employee PensionCoverdell Education Savings Account
The ideal solution if…

You’d rather pay taxes on contributions up front, not in retirement.

You’d rather make tax-deductible contributions now and pay tax on withdrawals.

You are self-employed and want to set up a retirement account for yourself.

You want to save for the future education costs of a child or grandchild.

Tax-deductible contributions

No

Yes

Yes

No

Qualified withdrawals

Tax free after age 59 ½

Taxable, and possible penalty if funds are withdrawn prior to age 59 ½

Taxable, and possible penalty if funds are withdrawn prior to age 59 ½

Tax free for qualified beneficiary's educational expenses

Required distribution

No (though you can make qualified,

tax-free withdrawals after age

59 1/2)

Required distribution is dependent on the individual's date of birth, and will start either at age

70 1/2, 72, or 73

Required distribution is dependent on the individual's date of birth, and will start either at age

70 1/2, 72, or 73

By age 30 (unless special needs)

How to open

Visit one of our branches!

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