Our Hadley Branch will remain closed through the week of October 19, due to ongoing water and plumbing issues. The drive-up Smart ATM remains open for your convenience, and includes the ability to deposit funds and make loan payments. All other branches remain open as usual during normal business hours. Access your accounts anytime through online and mobile banking.
IRA Savings Details & Disclosures
An IRA (Roth and Traditional) can be opened with as little as $100 in an IRA Share Account.
IRA Term Share Certificate options earn a higher rate of interest and can be opened with a minimum of $500. IRA Certificate terms range from 90 days to five years. A penalty will be imposed for early withdrawal of Term Deposit principal. For Certificates less than 1 year in duration the penalty is 3 months interest. For Certificates equal to or greater than 1 year in duration the penalty is 6 months interest.
Traditional IRA Retirement Savings Details
Eligibility: Anyone who has earned compensation (i.e. wages, salaries, tips, etc.) during the year of the contribution is eligible to contribute to a Traditional IRA.
Traditional IRA Aggregate Annual Contribution Limits (per tax year):
Contributions up to $6,000 per year (or up to $7,000 for those 50 years of age or older).
Roth IRA Retirement Savings Details
Eligibility: Anyone who has earned compensation (i.e. wages, salaries, tips, etc.) and does not exceed the Modified Adjusted Gross Income (MAGI)* limit is eligible to contribute to a Roth IRA. (See below for Annual Contribution Limits).
Roth IRA Aggregate Annual Contribution Limits (per tax year):
Contributions up to $6,000 per year (or up to $7,000 for those 50 years of age and older).