- Consumer & IRA CD’s
- Terms from 6 months to 60 months
- Minimum deposit of $2000.00 to open
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This type of IRA allows you to accumulate dividends on your earnings with no taxes to pay until funds are withdrawn. Contributions are tax deductible in the year for which they are made.
Unlike a traditional IRA, contributions made to a Roth IRA are not tax-deductible. However, the withdrawals could be penalty and tax free.
Coverdell Education Savings Account
Education savings accounts are available as a means to save for your child's education. The advantages of an education savings account are tax and penalty free withdrawals (including earnings) for qualified education expenses.