Individual Retirement Plans
A retirement plan is a smart, straightforward way to build your future savings. Our team is here to help you select the IRA that aligns with your goals—so you can retire with confidence.
Traditional IRA
- Contributions may be tax-deductible, potentially lowering your taxable income.
- Earnings grow tax-deferred until you withdraw funds in retirement.
- Available to anyone with earned income (subject to IRS limits).
Roth IRA
- Contributions are made with after-tax dollars (no deduction up front).
- Earnings and qualified withdrawals are tax-free in retirement.
- Available to individuals below certain income thresholds (IRS limits apply)
Education Savings Account
- Tax‑free growth and withdrawals when used for qualified education expenses.
- Funds may be used for K–12 and college costs, including tuition, fees, books, and supplies.
- Funds generally must be used by age 30 (special needs exception applies).
SEP Contribution
- Designed for self‑employed individuals and small‑business owners.
- Offers significantly higher contribution limits than traditional and Roth IRAs.
- Easy to maintain with employer‑funded contributions and flexible annual funding.
Consult with your tax advisor on which plan is best for you.
Traditional IRA
- Contributions may be tax-deductible, potentially lowering your taxable income.
- Earnings grow tax-deferred until you withdraw funds in retirement.
- Available to anyone with earned income (subject to IRS limits).
- Ideal for those who expect to be in a lower tax bracket after retirement.
Roth IRA
- Contributions are made with after-tax dollars (no deduction up front).
- Earnings and qualified withdrawals are tax-free in retirement.
- Available to individuals below certain income thresholds (IRS limits apply)
- Ideal for those who expect to be in the same or higher tax bracket later.
Education Savings Account (formerly Education IRA)
- Save for education expenses with tax-free growth and withdrawals if used for qualified costs.
- Funds can be used for K–12 and college expenses (tuition, fees, books, supplies,
- Contributions are not tax-deductible, but earnings grow tax-free.
- Annual contribution limit of $2,000 per beneficiary.
- Beneficiary must use the funds by age 30 (unless special needs exception applies).
SEP Contribution
This Simplified Employee Pension plan is for self-employed individuals and small-business owners. Contribution limits are significantly higher than traditional and Roth IRAs.
Open An Account or Apply For A Loan!
Our team is here to help you understand what accounts or lending options are best for your needs. Click Get Started and one of our bankers will reach out to help you achieve your financial goals.
Open An Account or Apply For A Loan!
Our team is here to help you understand what accounts or lending options are best for your needs. Get started today and we’ll have one of our bankers reach out to move your forward with your goals.