IRAs:

Individual Retirement Accounts-'IRA's and IRA Certificates:

If you are looking for a secure way to save for your retirement, your first home or for future college expenses, we have an IRA just for you. Available is a daily share type account and a certificate program just for IRA dollars. The IRA certificate program works the same as our regular certificate program, along with meeting IRA requirements. Three different kinds of IRAs are available, as follows:

Traditional:

Contributions may be tax deductible (be sure to check with your tax advisor). Dividends (earnings) are tax deferred until you begin drawing on the Account.

Roth:

This IRA is funded with non-deductible contributions and gives the owner more opportunities for tax-free withdrawals.

Education:

Now known as the Coverdell Education Savings Account, eligible parties are permitted to establish an Educational IRA for children under the age of 18. Earnings will accumulate tax-free if used for qualified education expenses by the time the child is 30. A maximum contribution of $500 per child for 2001, then changing to $2,000 per child for 2002 and later years.

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To contact a Member Service Representative please call:

Local: 315-445-2300
Long Distance: 800-219-2132
or Contact Us Online

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