For your retirement savings, you can’t beat the comfort and security of a People’s Individual Retirement Account (IRA). We offer our members Traditional and Roth IRA options, as well as Coverdell Education Savings Accounts. You can set-up your “plan” as either IRA Share Savings accounts or as IRA Share Certificates, depending on your needs.
Additionally, we can help you move funds from IRAs at other institutions and from qualified retirement plans, such as former employer’s 401(k), to a People’s IRA. Under some circumstances, you may also wish to convert a Traditional IRA to a Roth IRA.
Use your IRA to help make your retirement years comfortable and care free.
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Individual Retirement Accounts (IRAs) and Coverdell Education Savings Accounts
These popular accounts are a terrific way to prepare for your retirement or the costs of a child’s secondary education. An individual may contribute up to the federally mandated maximum amount. People’s offers two savings “paths” within the IRA plan:
IRA Share Savings Account – A savings account within your IRA plan that requires no minimum balance, can be opened with only $5, and earns the same dividend rate as your Carefree Savings account. This is the most flexible account option.
IRA Share Certificates – A minimum balance of $500 is required to open a certificate and you may purchase them with terms from three months to five years. The dividend rate is determined by the term of the certificate. This rate is locked in on the date of purchase and is guaranteed until maturity. Funds withdrawn prior to maturity may be subject to an early withdrawal penalty.
IRA Conversions and Rollovers – We can help you move funds from IRAs at other institutions and from qualified retirement plans, such as former employer’s 401 (k), to an IRA. Under some circumstances, you may also wish to convert a Traditional IRA to a Roth IRA.
Traditional IRAs – contributions may be tax-deductible and the earnings grow tax deferred until they are withdrawn. Funds may also be withdrawn without penalty for a variety of qualified reasons.
Roth IRAs – These are composed of non-deductible contributions; earnings are tax-free and penalty free after five years if withdrawals are made for qualified reasons. 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.
Coverdell Education Savings Account – Formerly known as an Education IRA, this is a savings account used to save for a child’s higher education. Earnings are tax-free when used for qualified educational expenses.
*Funds withdrawn early from an IRA or Coverdell account may also be subject to Federal withdrawal penalties. To decide which type of account and contribution limits might be best for your specific financial situation, talk with a tax advisor that you trust. When you are ready to contribute, contact us.
The Perks of Banking with People's
Bank Anywhere!
Manage your account on your terms! People’s offers convenient service that let you bank anywhere.
- Sign up for eStatements and receive your account statements by email.
- Online Banking – fast, easy, secure access to your account from anywhere.
- Mobile Banking – manage your money directly and make mobile check deposits from your phone using our app or text banking.
- Phone Banking – Live 24/7 Call Center
- Local: 360-695-5121
- Toll-Free: 1-800-252-6525
- Automated Phone Banking – convenient 24/7 account access
- Local: 360-695-7559
- Toll-Free: 1-877-TELLER0 (1-877-835-5370)
- Credit Card Online Access – 24/7 ability to make credit card payments and find other information on your card
- CardFree Cash℠ – No card? No problem. Get cash safely and instantly without using your debit card.
Overdraft Protection
People’s provides the tools you need to access your accounts and avoid embarrassing and costly overdraft situations.
- Overdraft Protection – avoid overdrawing your account with our safety-net overdraft protection.
- Automatic transfers from savings.
- Automatic transfers from your personal line of credit, once approved.
- Courtesy Pay – unanticipated expenses can inadvertently leave you with too little cash in your checking account. Avoid the embarrassment and merchant fees with People’s Courtesy Pay service. Learn more.
CardLock Theft Protection
Take control of your cards on the go with People’s CardLock. If you’ve misplaced your People’s debit card or credit card, or you’re noticing suspicious activity in your account, you can take action immediately before your identity or finances are compromised.
People’s CardLock is a free smartphone app designed to help protect your debit and credit cards, with custom alerts and blocking features. Learn more.
- Alerts: The CardLock app will alert you every time a transaction is declined, online activity is reported, and for specific types of purchases.
- Controls: People’s CardLock also includes controls to block specific types of transactions. This can be helpful in impulse buying, fraud prevention, and more.
- Turn Cards On/Off: CardLock gives People’s members the ability to turn their debit and credit cards on and off at any given time without needing to contact the financial institution. When the account is locked, new charges and cash advances will be denied.
In-Branch Banking Services
In addition to applying for loans, opening deposit accounts, and traditional teller transaction, you can find these convenient in-branch member services.
- Notary Services – we offer notary services to all members in all of our branches. Make sure to bring a photo ID!
- Safe Deposit Boxes – keep your valuables secure in our safe deposit boxes, available at our Hazel Dell and Battle Ground branches. We’ll automatically deduct the fee from your savings account.
- Night Deposit Boxes – located at our Hazel Dell, Battle Ground and Fisher’s Landing branches, for when you need to drop off a deposit or payment after hours.
- Cashier’s Checks – members may obtain one Cashier’s Check for free each day. Additional checks cost $5.00. Not available to non-members.
- Wire Transfers – a safe and convenient way to transfer funds electronically, People’s offers both incoming and outgoing wire transfer services for domestic and international transactions.
IRA – Individual Retirement Account in Vancouver WA
Serving Greater Vancouver WA