Individual Retirement Accounts

An IRA is a long-term savings plan that allows you to invest for your future and enjoy maximum tax advantages along the way.  With an IRA, your earnings are tax-deferred until you withdraw them- this means that your savings will accumulate at a faster rate.  Consult your tax advisor for information about deductibility of your IRA deposits.

Community State Bank offers attractive features to our IRA options, including:

*  Low minimum investment
*  No fees or service charges to maintain your IRA
*  Interest will be compounded quarterly and credited to the certificate quarterly
*  Competitive interest rates
*  Fixed and variable interest rate options
*  Automatic renewal

At Community State Bank we offer several types of IRAs:

 *  Traditional IRA- An individual Retirement Account (IRA) allows an investor to save money for use in retirement while allowing the savings to grow tax-free

*   Roth IRA- A Roth IRA allows tax payers to save money for use in retirement while allowing the savings to grow tax-free.  All of the tax benefits associated with a Roth IRA apply when withdrawals are made; withdrawls, subject to certain rules, are not taxed.

* Coverdell Education Savings Account- This is an IRA to be used for children's education.