IRA

Neighbors offers 3 choices in Individual Retirement Accounts (IRA) to give you the highest rate of return for your situation.

Traditional IRA

  • Contributions may be fully tax deductible.
  • Earnings grow tax deferred until withdrawn.
  • Early withdrawals can be made penalty free for qualifying reasons.

 

Roth IRA

  • Contributions are not tax deductible but can be withdrawn tax and penalty free at any time.
  • Earnings are tax free if the account has been open for at least 5 years.
  • You are not required to begin withdrawals at age 70.

 

Education IRA

  • Contribute up to $2000 per year on a child’s behalf.
  • Contributions are not tax deductible but can be withdrawn tax and penalty free for qualified higher education purposes.
  • Funds can be transferred from one child’s account to another in the family.

 

Visit a branch to open yours today.

 

View IRA Rates