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