IRAs

Pay for qualified elementary and secondary education costs with earnings that grow on a tax-deferred basis.

Details

• Can be used to pay for qualified elementary and secondary education costs
• Earnings grow on a tax-deferred basis and distributions are tax-free if the money is used to pay for qualified education expenses.

Choose from Two Different IRAs:

Share IRAs

• Similar to a share account
• No minimum opening deposit required
• $100 minimum required to earn dividends
• May contribute at any time up to the maximum allowable contribution
• Dividends calculated on daily balance — Paid quarterly

IRA Certificate

• Multiple options for rates and terms available
• Minimum deposit of $500 required
• Penalty for early withdrawal
• Dividends paid quarterly

Restrictions

• Transaction limitations apply
• Possible loss of dividends if account is closed in the middle of the month
• Contact your tax advisor to discuss possible tax penalty implications