Savings /
Certificates of Deposit
Individual Retirement Accounts (IRAs)
Savings You work
hard for your money - make your money work hard for you.
Select the FDIC insured account that works best for you.
Christmas Club
- Earn 4.08% annual
percentage yield on balances up to $4,000 effective
12-1-2007.
- No minimum balance
to open
- $25 dollar balance required to obtain
APY
- ATM card available with account
Savings*
- Free ATM Card
- Unlimited
ATM/Teller withdrawals
-
Call First
-
Direct Deposit
- Six transfers per
month at no charge to other First National Bank & Trust
accounts or to third parties
*No minimum balance
requirement for minors
under age 18
Certificates of Deposit
- $500 opening
balance
- Make additional
deposits of $100 or more during the original term of the
certificate
- Earn interest at
the current rate at the time of deposit
- Original balance
plus any deposits will mature at the same time
- Available at the
following terms: 91 days, 182 days, 1, 2, 3, and 5 years
- Penalty if
withdrawn before maturity date
All certificates of
deposit are insured up to $100,000 by the FDIC.
WIN-WIN Option - Allows
two rate increases on a 1 year CD as market rate increases.
Individual Retirement Accounts (IRAs)
Traditional IRA - A traditional IRA is an account that
allows you to defer taxes on the earnings on your
contributions until they are withdrawn. Also certain
contributions are tax deductible in the tax year for which
they are made.
- Penalty for early
withdrawal
- “Win-Win Option” - all
IRAs allow two rate increases over the 12-month term as
market rate increases
- Minimum opening deposit:
$50.00
Roth
IRA - The Roth IRA allows only nondeductible
contributions and features tax-free withdrawals for certain
distribution reasons after five years. For persons who
expect to be in a higher tax bracket when you retire, a Roth
IRA may be more beneficial than a Traditional IRA.
- Your modified adjusted
gross income must meet certain guidelines to qualify for
a Roth IRA.
Coverdell Education Savings Account (Formerly Known as
Education IRAs)
This account is a nondeductible account that features
tax-free withdrawals for a child's education expenses.
Qualified higher education distributions are penalty free
and federal income tax free. Consult a tax advisor to
discuss your individual situation.
For more information, please call or visit one of our
offices,
or
e-mail us.
Please consult your tax
advisor before opening an IRA account.
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