Traditional IRA

An IRA can help you plan for your retirement and increase your investment options for your future retirement. With tax-deferred interest earnings, your savings will grow more rapidly allowing you to maximize your income. It's simply the smart way to invest in your future.

Features of a Traditional IRA

• Taxes on interest are deferred until funds are withdrawn
• Withdrawals with no IRS penalties can begin at age 59 1/2 and earnings are taxed at your regular income tax rate upon withdrawal
• Contribute up to $4,000 for tax year 2006. If you are 50 or older you may contribute $5,000
• Variable rates available with $250 opening deposit; fixed rates available with $1,000 opening deposit
• Variable rates options allow you to make additional deposits

Rate Options

Fixed Rate: You may chose from 1-year, 18-month, 2-year, 2.5 year or 5-year terms that pay a fixed rate of interest for the length of the term.

Variable Rate: You may choose from 24, 36 or 60-month terms. Additional deposits can be added with minimal increments of $100.

Rates on variable IRAs are indexed to the yields on Treasury Securities with matching maturities and are adjusted monthly.

There are substantial penalties for early withdrawals of principal. IRS penalties may also apply. (Consult your tax adviser).