Put your retirement savings to work. Profinium IRAs pay competitive interest and offer unique tax benefits.*
- Online Banking
- Mobile Banking
- Tax-advantaged retirement savings*
- Competitive rates above regular savings
- 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
- Free digital banking
- $500 minimum deposit to open
*Consult a tax advisor.
When do you want to enjoy your tax advantage? A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.
- No income limits to open
- No minimum contribution per year
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70½
- Income limits apply
- Contributions are NOT tax deductible
- Earnings are 100% tax FREE at withdrawal*
- Principal contributions can be withdrawn without penalty*
- Withdrawals on interest can begin at age 59½
- Early withdrawals on interest subject to penalty**
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.