Certificates of Deposit, Individual Retirement Accounts, and Health Savings Accounts
- $1,000.00 minimum deposit required.
- No early withdrawal is allowed.
- All interest rates are subject to change without notice.
- Interest may be paid by reinvestment, check, or automatic transfer to a deposit account at the bank.
- Interest can be paid monthly, quarterly, semi-annually, or annually.
| Interest Rate*1 | Annual Percentage Yield** | |
|---|---|---|
| 91 Day | 2.75% | 2.78% |
| 182 Day | 4.25% | 4.33% |
| 12 Month | 3.50% | 3.56% |
| 18 Month | 3.00% | 3.04% |
| 24 Month | 2.75% | 2.78% |
| 30 Month | 2.50% | 2.53% |
| 36 Month | 2.50% | 2.53% |
| 48 Month | 2.25% | 2.27% |
| 60 Month | 2.25% | 2.27% |
Individual Retirement Account
- Three different IRA plans to choose from - Traditional, Roth, and Coverdell Education Savings Account (CESA).
- Invested into eighteen months fixed-rate Certificate of Deposit.
- Interest reinvested monthly.
- $50.00 minimum deposit required.
- All interest rates are subject to change without notice.
Traditional
- This is a custodial account for an individual with earned income.
- Deposits can be up to $6,000/year and $7,000/year for those age 50 and over.
- Disbursements can begin at age 59 ½.
- IRA certificates can be automatically renewed.
- IRAs can be transferred from other institutions at no charge.
- Disbursements can be made before retirement age for qualified reasons.
Roth IRA
- Funds invested are after-tax dollars.
- Contributions are not tax-deductible.
- IRA certificates can be automatically renewed.
- Deposits can be up to $6,000/year and $7,000/year for those age 50 and over.
- Disbursements can be made before retirement age for qualified reasons.
- IRAs can be transferred from other institutions at no charge.
Coverdell Education Savings Account
- The CESA is designed to save for a child's education.
- Deposits can be up to $2,000/child/year.
- IRA certificates can be automatically renewed.
| Interest Rate* | Annual Percentage Yield** | |
|---|---|---|
| 18 Month | 3.00% | 3.04% |
Interest Rate*
18 Month
3.00%
Annual Percentage Yield**
18 Month
3.04%
Regular Contribution Eligibility Requirements include:
- Covered by an HDHP.
- Not covered by a non-HDHP (exceptions apply).
- Not enrolled in Medicare.
- Not eligible to be claimed as an independent on a federal income tax return.
Regular HSA Contribution Limits:
- For Self-only HDHP coverage: The standard limit can be up to $3,600/year and
- Limit for those 55+ can be up to $4,600/year
- For Family HDHP coverage: The standard limit can be up to $7,200/year and
- Limit for those 55+ can be up to $8,200/year
HSA funds are deposited into a money market account.
Call for current rates. -- ADD LINK
*APY = Annual Percentage Yield
Powered by DCI