Individual Retirement Accounts (IRAs)
Supplement your savings and stabilize your earnings for retirement.
Steady savings options to keep your future secure.
As you get closer to retirement, you may be wondering how to make the most of the money you have saved. Whether you've been saving for a while or are looking for the best way to get your retirement account balance where it needs to be, we want you to sprint across that finish line!
It's easy to ramp up savings in your final working years with one of our Individual Retirement Account (IRA) options. Our Traditional and Roth IRAs can help boost that retirement number while potentially alleviating some of the pressure you may experience at tax time.
Traditional IRAs
Make sure you’re putting away enough to keep your future comfortable.
- Tax year 2024 maximum Traditional IRA annual contributions - $7,000 If age 50+ $8,000.00 ($1,000 catch-up Contribution)*.
- Potential for tax – deductible contributions and the opportunity for your earnings to grow tax deferred until they are withdrawn in retirement.
Roth IRAs
Prepare for a retirement where your earnings grow tax-free.
- Tax year 2024 maximum Roth IRA annual contribution - $7,000.00 If age 50+ $8,000.00 ($1,000 catch-up contribution)*.
- Provides the opportunity for your earnings to grow tax-free. Generally, Roth IRAs offer greater tax savings and withdrawal flexibility than Traditional IRAs.
- Roth IRAs are funded with after-tax dollars. These funds can be withdrawn tax-free if the account holder is over 59 ½ years old and the funds have remained on deposit for at least five years.
Ready to open your account? Visit your local branch or reach out to our Customer Contact Center today!
*Annual contribution amount is the total contribution combined between your Traditional and Roth IRA's if you are enrolled in both IRA types. Deadline to make a contribution for 2023 is April 15, 2024.