The earlier you start saving for retirement, the better off you’ll be. An IRA allows you to save money, earn interest and reduce the taxes you pay!
Certificates of Deposit (CDs)
The safe and secure way to earn interest with a variety of options allow you to manage your money and achieve your financial goals. Ask about special CD rates for Citizens customers.
- FDIC insured
- Terms from 30 days to five years
- Competitive fixed or variable-rate CDs
Traditional (IRAs) Earn Interest
- Fixed and variable rates
- Contributions may be tax deductible*
- Taxes on earnings or pre-taxed dollars are deferred until distribution
- Distributions may be take without penalties at age 59 1/2
Roth (IRAs) Reduce Taxes
- FLEXIBILE IRA with tax-free growth
- Contributions are not tax deductible
- Qualified distributions after a 5-year period
- Tax-exempt if you’re over 591/2
- Withdraw funds used to purchase a first home are tax-exempt if you’re under 59 1/2, please refer to the IRS Website for additional details.
Coverdell Education Savings Account (CESA) Save Money
- SAVE money and earn tax-exempt interest for your child's education
- Make yearly non-deductible contributions up to $2,000
- Qualified distributions and earnings are tax exempt
*Consult your tax advisors.