Statement Savings/Freedom Savings
- Minimum deposit of $100.00 required to open account
- Interest rate subject to change
- Interest compounded and paid semi-annually (June 30th and December 31st)
- Excess item fee of $1.00 charged for each withdrawal in excess of six during a calendar month*
- $2.00 fee if the average monthly balance falls below $100.00**
*Excess Item Fee and **Service Charge Fee not applicable for Freedom Account
- Can be opened anytime
- Deposits of any amount accepted
- Club runs annually from October 1st through September 30th
- Minimum deposit of $5.00 required to open account
Certificates of Deposit
- Minimum deposit requirements from $500.00 to $1,000.00
- High yields with maturities from eight days to six years
- Earnings may be compounded, paid by check, or credited to a checking or savings account
- Substantial penalty for early withdrawal
Contributions to an IRA are based upon compensation and age.
- To make a regular Traditional IRA contribution for any tax year, an individual must be younger than 70½.
- Participation depends on whether you are covered under an employer sponsored Qualified Retirement Plan.
- Your contributions may range from fully deductible to totally non-deductible, based on your filing status and Adjusted Gross Income (AGI).
- Withdrawals prior to age 59½ may be taxable and subject to the IRS 10% early withdrawal penalty.