INDIVIDUAL RETIREMENT ACCOUNT (IRA) A time deposit that allows
individuals to have a tax deferred retirement plan. It is available to
individuals under 70 ½ years old and have earned income. A non-working
spouse can establish a spousal IRA as well.
Minimum to Open: $500.00
All earnings on IRA contributions are tax deferred
IRA’s are insured separately from other deposit accounts up to $250,000.00
by the FDIC
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