The traditional IRA allows you to defer taxes on the
earnings on your contributions until they are withdrawn. Also,
certain distributions are tax deductible in the tax year for which you
make them. Distributions must be taken starting at age 70 1/2.
Contributions can be made if you or your spouse have compensation.
The Roth IRA allows only nondeductible contributions and
features tax free access to your contributions. Earnings, however,
may be subject to taxes unless they are withdrawn after age 59 1/2 or
taken as a qualified distribution. Distributions are not required
at any age. Contributions can be made if you or your spouse have
compensation and your modified adjusted gross income does not exceed
certain prescribed limits.
Consult your accountant to determine the best IRA for your financial
For more details, contact the Customer Service
Health Savings Account
A Health Savings Account (HSA) is a tax-exempt account established
for the purpose of paying qualified medical expenses of you and your
You must be covered under a high-deductible health plan (HDHP) and
not covered by any other health plan that is not an HDHP.
Contributions to an HSA are fully tax deductible and distributions for
qualified medical expenses are tax free.
$50.00 minimum balance requirement.
$5.00 monthly service charge if below minimum balance.