IRA

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.

Contact one of our local branches to receive the most up to date IRA rates.