Individual Retirement Account

• We offer both fixed and variable rate Traditional, Roth, SEP, and Education IRAs with terms of 18 months.
  
• You must deposit $500.00 to open an IRA account.
  
• Interest will be credited to your account every three months.
  
• Interest will be compounded every three months. We use the daily balance method to calculate interest on your account.  This method applies a periodic rate to the principal in your account each day.
  
• Interest begins to accrue on the business day you deposit noncash items (for example, checks).
  
• You may make deposits into your account until the maturity date.
  
• We will impose a penalty if you withdraw any of the principal before the maturity date.  This fee we may impose will equal 182 days interest on the amount withdrawn subject to penalty.
  
• This account will automatically renew at maturity.  You will have ten days after the maturity date to withdraw funds without penalty.