IRAs

For retirement, you can't beat the comfort and security of a People's Individual Retirement Account.

Suppose you're in the 30 percent tax bracket, and contribute $5,000 each year. At 2.5 percent interest for 40-years you'll accumulate over $350,000 in your account, and would have earned at least $50,000 more than you would have in a taxable account at the same rate! Come in and open an IRA today!

We offer both Traditional and Roth IRAs. With a Traditional IRA - contributions are potentially tax deductible, your earnings grow tax deferred, and nearly everyone qualifies to contribute. A Roth IRA is not tax deductible; however, earnings grow tax-free and withdrawals can potential be made without you having to pay any taxes. The ability to contribute to a Roth IRA does phase out at higher income levels, as do Traditional IRA contributions for people participating in an employer-sponsored retirement plan.

The amount you can contribute depends partially on your age. You can contribute to either a Traditional or Roth IRA from every paycheck - through payroll deduction - up to $5,000 a year if under age 50. Those people 50 or over can make an extra $1,000 "catch-up" contribution for a total of $6,000. Nonworking or low-earning spouses also can contribute up to 5,000 a year if under age 50, and $6,000 if 50 or over, into a Spousal IRA.

Contact your tax advisor about the IRA that's best for you, and its deductibility.

For more information on IRAs, click here.

For IRA savings rates, click here. For IRA certificate rates, click here.

Take advantage of tax-advantaged retirement savings. You'll save on taxes, earn high rates — and enjoy the safety of insured accounts.

Open an IRA
To open your IRA, contact us. For information about our locations, hours and telephone numbers, click here.