Individual Retirement Account

INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)

PLAN FOR TOMORROW

Put your retirement savings to work so you don't have to. Profinium IRAs pay competitive interest and offer unique tax benefits. 

 
    
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Competitive rates above regular savings

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No Set up Fees or monthly/annual maintenance fees

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Tax-advantaged retirement savings*

KEY FEATURES

  • Traditional and Roth IRA options

  • No setup fees or monthly/annual maintenance fees

  • $7,000 annual contribution limit

  • Additional $1,000 "catch-up" contribution allowed for ages 50+

  • Funds can be used to purchase CDs within IRA

  • Free access to our mobile banking and Money Pro spending app

  • $500 minimum deposit to open

*Consult with your tax advisor.
*Data rates may apply.

TRADITIONAL VS. ROTH IRA

Traditional IRA

  • No income limits to open

  • Contributions may be tax-deductible*

  • Earnings grow tax-deferred

  • Withdrawals can begin at age 59½

  • Early withdrawals may be subject to penalties*

  • Mandatory withdrawals start at age 73

Roth IRA

  • Income limits apply

  • Contributions are not tax-deductible

  • Earnings grow tax-free

  • Qualified withdrawals are tax-free

  • No mandatory withdrawal age

  • Contributions can be made at any age with earned income

*Consult with your tax advisor.

Connect with Your Relationship Banker

 Apply for an IRA Today

 
*Consult with your tax advisor.
**Subject to some minimal conditions. Consult a tax advisor.
***Certain exceptions apply, such as healthcare, purchasing first home, etc.