IRAs

Minimum Balance to Open an Account

View Our IRA Rates

Account Type
Roth IRA
Traditional IRA
18 Month Variable $100.00 $100.00
12 Month $1,000.00 $1,000.00
15 Month $2,500.00 $2,500.00
18 Month   $1,000.00
24 Month $1,000.00 $1,000.00
30 Month   $1,000.00
36 Month Bump $2,500.00 $2,500.00
60 Month   $1,000.00
84 Month $1,000.00 $1,000.00

Important Disclosures

We use the daily balance method to calculate the interest on all accounts. Interest begins to accrue on the business day you deposit. A penalty may be imposed for early withdrawal. All initial accounts must be opened in person by the primary account holder. Proper identification is required to open any account. All Federal IRA rules and regulations pertain to the above accounts.

18 MONTH VARIABLE RATE: You must deposit $100.00 to open this account. Additional deposit can be made of $1.00 or more at any time. Your interest rate is subject to change on February 1st and August 1st to not less than the rate currently being paid on our 18 month fixed rate CD's. This account will automatically renew at the interest rate in effect at maturity. You will have ten calendar days from the maturity date to withdraw without a penalty. Interest is compounded and credited semi-annually on January 31 and July 31st of each year. Early withdrawal penalty is an amount equal to 180 days simple interest, whether earned or not.

12 MONTH – 15 MONTH – 18 MONTH CERTIFICATES: Interest begins to accrue on the business day you deposit. The interest rate for your account will be paid until maturity. Interest is compounded and credited quarterly on Jan. 31, April 30, July 31, and Oct. 31. The certificate will automatically renew at the interest rate in effect at maturity. You will have ten calendar days from the maturity date to withdraw without a penalty. After the account is opened you may not make deposits into your account until the maturity date. Early withdrawal penalty is an amount equal to 180 days simple interest, whether earned or not.

24 MONTH – 30 MONTH – 60 MONTH – 84 MONTH CERTIFICATES:

Interest begins to accrue on the business day you deposit. The interest rate for your account will be paid until maturity. Interest is compounded and credited quarterly on Jan. 31, April 30, July 31, and Oct. 31. The certificate will automatically renew at the interest rate in effect at maturity. You will have ten calendar days from the maturity date to withdraw without a penalty. After the account is opened you may not make deposits into your account until the maturity date.

  • The 24 Month and 30 Month Certificate early withdrawal penalty is an amount equal to 270 days simple interest, whether earned or not.
  • The 48 - 60 Month Certificate early withdrawal penalty is an amount equal to 365 days simple interest, whether earned or not.
  • The 84 Month Certificate early withdrawal penalty is an amount equal to 540 days simple interest, whether earned or not.

36 MONTH BUMP RATE CERTIFICATE: Interest is compounded and credited quarterly on JAN. 31, APR. 30, JUL. 31 & OCT. 31st. You may request an interest check to be mailed monthly, quarterly, semi-annually or transferred to another account at our bank. Interest checks or interest transfers will reduce the annual percentage yield. The certificate will automatically renew at the interest rate in effect at maturity. You will have ten calendar days from the maturity date to withdraw without a penalty. After the account is opened you may not make deposits into your account until the maturity date. Early withdrawal penalty is an amount equal to 365 days simple interest, whether earned or not. The interest rate for your account will be paid until maturity, unless you exercise your right to bump the rate. The option must be exercised by the accountholders in person in writing on a form provided by the institution and acknowledged by our representative. The Bump Rate option does not extend the original maturity date. The new adjusted interest rate is paid from the date the original interest rate is bumped to the end of the original term. If your certificate auto-renews, the Bump Rate option is allowed one time during each renewal period.