Agri-Business Savings Individual Retirement Account (IRA)

We offer both Traditional and Roth IRA options. Learn more about our IRAs, and let us help you start planning for your future.

Details
  • Competitive interest above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • $5,500 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDs within IRA
  • Minimum deposit to open as low as $200
    • Money Market Savings: $200
    • Classic IRA CD: $500
    • Money Manager IRA: $5,000
Traditional vs. Roth

Traditional IRA

Prepare to savor a time when life slows down and time passes faster than ever by making tax-deductible contributions to a retirement savings account.1,3

Roth IRA

Make annual contributions to a Roth IRA and watch your money grow until you are ready to make qualified, tax-free withdrawals.2,3

Simplified Employee Pension (SEP IRA)
  • Ideal for businesses of any size or self-employed individuals
  • Gain the respect of your employees
    • Help employees reach their retirement savings goals
    • Employee always has complete ownership of all SEP IRA money
  • Earn competitive interest on entire balance
  • Contributions are tax deductible; your business pays no taxes on earnings
    • Contributions made only by the employer
    • Only self-employed may make contributions on their own behalf
  • Little to no documents to file with government
  • Inexpensive to set up and operate
  • Flexible annual contributions – good plan if cash flow is unpredictable
  • Can contribute up to 25% of each participant's annual compensation (earned income)
    • Or, up to the maximum allowable limit for current plan year, whichever is less3
    • Must contribute equally for all employees
  • Employee must first establish a traditional IRA, in which the employer will deposit SEP contributions
  • $200 minimum deposit to open

1Eligibility based on retirement plan coverage, adjusted gross income and filing status.

2Eligibility based on income.

3Consult with your tax advisor.