TrailNorth offers a wide range of Individual Retirement Accounts (IRA) to help make your retirement dreams come true
- A $5.00 minimum balance is required for each of our IRA savings accounts
- No monthly fees
- Contributions may be made in "lump sums" or by regular deposits to the IRA Savings throughout the year
- Dividends are paid monthly
- IRA Share Certificates are also available with a minimum deposit of $200 and terms of one year through 10 years.
A traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax-deductible in the year they are made.
The Roth IRA is an account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70½.
The Educational IRA is an account that features tax-free withdrawals for a child's higher education expenses. Contributions are nondeductible, therefore unlike the Traditional IRA, distributions from an Educational IRA are penalty-free and tax-free. Consult your tax advisor for further information.
IRA Share Certificates
Earn higher dividends with an IRA Share Certificate. IRA Share Certificates are available with a minimum deposit of $200.
Current Rates: Effective July 29, 2015
|Account||Minimum Balance||Dividend Rate||APY|
|1 yr to less than 2 yrs||$200.00||5.00%||5.13%|
|2 yrs to less than 3 yrs||$200.00||4.75%||4.86%|
|3 yrs to less than 4 yrs||$200.00||4.25%||4.34%|
|4 yrs to less than 5yrs||$200.00||3.75%||3.82%|
|5 yrs to less than 10 yrs||$200.00||3.25%||3.30%|