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Individual Retirement Accounts

Build the retirement
you deserve

IRAs offer powerful tax advantages to help your retirement savings grow faster. Choose between a Traditional IRA or Roth IRA based on your tax situation.

2025 Limit
$0
per year
Age 50+ Limit
$0
catch-up contribution
Compare IRA Types Open an IRA
Traditional vs. Roth

Two paths to the same destination

Both IRAs grow tax-advantaged — the difference is when you pay taxes. Your ideal choice depends on where you expect to be in retirement.

Traditional IRA

Tax-deferred growth

Contribute pre-tax dollars and pay taxes only when you withdraw in retirement. Best if you expect to be in a lower tax bracket later.

  • Contributions may be tax-deductible
  • Growth deferred until withdrawal
  • Taxes paid on withdrawal in retirement
  • Required Minimum Distributions (RMDs) at age 73
  • Ideal: expect lower tax bracket in retirement
2025 Limit
$7,000
Open Traditional IRA
Roth IRA

Tax-free growth

Contribute after-tax dollars now and enjoy completely tax-free growth and withdrawals in retirement. Best if you expect to be in a higher bracket later.

  • Contributions made with after-tax dollars
  • Withdrawals in retirement are tax-free
  • No RMDs — let your money keep growing
  • Contributions (not earnings) can be withdrawn anytime
  • Ideal: expect higher tax bracket in retirement
2025 Limit
$7,000
Open Roth IRA
Quick Rule of Thumb

Choose Traditional if you're in a high tax bracket now and expect a lower bracket in retirement (tax savings now).   Choose Roth if you're early in your career, expect your income to grow, or want tax-free withdrawals in retirement (tax-free later). When in doubt, consult with a financial advisor.

Why an IRA?

The numbers speak for themselves

$7K
Annual Limit

Maximum contribution per year for those under 50 (2025).

0%
Tax on Growth

In a Roth IRA, your earnings grow completely tax-free.

40+
Years to Grow

The earlier you start, the longer compounding works its magic.

$250K
FDIC Insured

Your IRA deposits are federally protected just like any account.

Retirement Growth Projection

$500/month — Traditional vs. Roth

Roth IRA (tax-free withdrawals) Traditional IRA No IRA (taxable account)

Assumes 7% avg annual return. For illustrative purposes only. Not financial advice.

Contribution Limits

Annual IRA contribution limits

Year Under Age 50 Age 50+ (with catch-up)
2019 $6,000 $7,000
2020 $6,000 $7,000
2021 $6,000 $7,000
2022 $6,000 $7,000
2023 $6,500 $7,500
2024 $7,000 $8,000
2025 Current $7,000 $8,000
Roth IRA contributions are subject to income limits. For 2025: phase-out begins at $150K for individual filers. Traditional IRA deductibility depends on income and workplace retirement plan participation.
How to Open

Open your IRA in 5 steps

It takes about 10 minutes online. You can also visit any branch for personalized guidance.

1
Choose your IRA type

Decide between Traditional (tax-deferred) or Roth (tax-free). Not sure? Our comparison tool can help, or speak with an advisor.

2
Verify your eligibility

For Roth IRAs, ensure your income is within the IRS limits. Both IRAs require earned income for the year you're contributing.

3
Fill out the application

Provide your personal information, Social Security number, and beneficiary details. The process is fully digital.

4
Fund your account

Make your initial contribution by transferring from a bank account. You can also roll over an existing IRA or 401(k) from a previous employer.

5
Invest and monitor

Choose how your IRA funds are invested (FDIC-insured savings or FDs). Set up automatic contributions to build consistently.

Open Your IRA Today
FAQs

IRA Questions Answered

A Traditional IRA allows you to contribute pre-tax dollars (potentially tax-deductible), and you pay taxes when you withdraw funds in retirement. A Roth IRA uses after-tax dollars, and qualified withdrawals in retirement are completely tax-free. The best choice depends on your current vs. expected future tax bracket.
Yes, but your total contributions across all IRAs cannot exceed the annual limit ($7,000 in 2025, or $8,000 if you're age 50+). For example, you can split contributions: $3,500 into a Traditional and $3,500 into a Roth.
Yes. If you leave an employer, you can roll your 401(k) balance into a Traditional IRA (or Roth IRA if you pay taxes on the conversion). We support both direct and indirect rollovers. Visit a branch or call us for guidance.
For Traditional IRAs, penalty-free withdrawals begin at age 59½. Roth IRA contributions can be withdrawn at any time without tax or penalty; earnings are penalty-free after age 59½ if the account has been open at least 5 years. Early withdrawals may be subject to a 10% penalty plus income taxes.
You have until the federal tax filing deadline (typically April 15) to make an IRA contribution for the prior tax year. For example, you can contribute to your 2025 IRA until April 15, 2026.
Your future starts now

Open your IRA today

Every year you wait is a year of compounding you miss. Start small — even $50/month adds up over decades.

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