Roth IRA

Roth IRAs are designed to help individuals to save for their first home, higher education, and other qualified distribution reasons. Your nondeductible annual contributions are taken after taxes and qualified withdrawals are Tax Free.

Eligibility - Married Couples filing jointly with a combined income of up to $190,000 or single filers with income of up to $95,000.

Contributions - Every eligible taxpayer will be able to contribute up to $4,000 in 2005 and $4,000 in 2006 per year (in coordination with Traditional IRA contributions). Contributions can also be made after age 701/2. A person who is 50 years old or older can do a catch-up contribution of $1,000 in 2006 and $500.00 in 2005.

Qualified Distributions - Withdrawals after 5 years are tax free and penalty free if used for any of these qualified distributions:

  • Higher Education
  • A first home (up to $10,000)
  • Age 591/2
  • Death
  • Disability

No age 701/2 minimum distribution is required.

IRA Certificate Rates
Dividend Rate
Min. Initial Deposit
Min. Balance¤

06 - 11 Months
12 - 23 Months
24 - 35 Months

* Annual Percentage Yeild
¤ Minimum average monthly daily balance to avoid service fees.
All rates are subject to change without notice and are effective as of September 4, 2018.

IRA certificate rates are compounded and paid monthly.

If you need more information about this IRA, please email New Accounts at or call 1-808-832-8700.