SAVINGS

We understand the importance of savings plans to help our customers reach their personal financial goals. Therefore we offer a variety of services to assist you in having the money you need when you need it.

Passbook Savings
Our savings account offers the flexibility of easy withdrawals plus the benefit of interest that's compounded daily and paid every quarter. A minimum of $50.00 is needed to open the account.
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Certificates of Deposit
For longer-term savings, our certificates of deposit offer something for everyone. Certificates typically pay interest at a higher rate than our passbook accounts, and maturities are available ranging from 91 days to 60 months. Rates vary based upon the term you select. Interest is compounded daily, paid quarterly, and can be paid by check or deposited into the savings or checking account you specify.
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Individual Retirement Account
An IRA is a special savings plan that lets you put aside money you earn today to be used later for your retirement. Depending on your income, your income tax liability on those funds may be deferred. Ask your account representative for more details. In addition to our regular IRA, you may open a "rollover" IRA, which allows you to take money you've received in a lump sum from a pension or profit-sharing plan or an existing IRA elsewhere, and "roll it over" into our IRA to avoid any tax penalties. This type of IRA is most often used by someone who changes jobs and receives their retirement funds from the old employer in one large check.
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Roth IRA's
The Roth IRA is a nondeductible IRA that offers tax-deferred earnings and tax-free distributions. The best part about this investment product is that it offers tax-free distributions if you follow certain requirements. That means money you withdraw is yours alone and doesn't have to be included as income at tax time. (Ask an account representative for more details.)
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