Enjoy a break on taxes either when you contribute or when you withdraw depending on the IRA you choose.
Reach your retirement goals faster with higher returns than most saving solutions.
| Feature | roth iRA | TRADITIONAL IRA | SEP IRA |
| Tax Deductible Contributions | NO | YES | YES |
| Tax-Advantaged Withdrawals | YES | NO | NO |
| Tax-Advantaged Growth | YES | NO | NO |
| Employer Contributions | NO | NO | YES |
A Traditional IRA is a special tax-deferred savings account in which earnings are not taxed until you begin to withdraw from it. A traditional IRA allows for tax-deductible contributions for most people.
A Roth IRA is a retirement solution that allows you to contribute after-tax dollars. While there are no tax deductions for your contributions, your withdrawals and earnings are not taxed as long after age 59 ½ if your account has been open for at least five years.
It’s never too early to start planning for retirement. You can contribute to a Roth IRA at any age. If you meet the modified adjusted gross income requirements. Explore maximum contribution amounts and tax advantages or if you’re ready to open an account, apply online today!
A SEP IRA is a written agreement under which an employer contributes money to their employees’ Traditional/SEP IRA. Once funds are contributed, it becomes the responsibility of the employee to manage their IRA investments. This is a great choice for an employer or self-employed person looking for an inexpensive and easy-to-administer retirement plan.
| Terms | Interest Rate | Annual Percentage Yield (APY) |
|---|---|---|
| 3-Month (91 Days) | 0.10% | 0.10% |
| 6-Month (182 Days) | 0.10% | 0.10% |
| 9-Month (273 Days) | 0.40% | 0.40% |
| 1-Year | 4.25% | 4.33% |
| 2-Year | 4.00% | 4.07% |
| 3-Year | 3.75% | 3.82% |
| 4-Year | 3.50% | 3.56% |
| 5-Year | 3.25% | 3.30% |
Minimum balance to earn the Annual Percentage Yield (APY) is $500. No withdrawals permitted within the first six (6) days after the date of deposit. A penalty will be imposed for early withdrawal. Fees could reduce earnings on the account
Start your journey to retirement today. Calculate your retirement contributions and compare account options with free retirement savings calculators.
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Read MoreAll deposits are insured through the combined coverage of the FDIC (Federal Deposit Insurance Corporation) and the DIF (Depositor’s Insurance Fund). Under the FDIC, the standard insurance amount is $250,000 per depositor, for each ownership category. As a depositor in this bank, all of your deposits and accrued interest are insured in full without limit or exception. All deposits above the FDIC limit are insured in full by the Depositors Insurance Fund.
There has been a lot in the news lately about deposit insurance and bank safety. This question and answer section is to provide you with useful information about the safety and security of your funds at Country Bank. You can be confident that Country Bank is in a strong financial position and your interests are safe. In fact, the deposits of Country Bank customers are backed by the Federal Deposit Insurance Corporation (FDIC) to the maximum extent allowed by law. Additionally, the Depositors Insurance Fund insures all deposit amounts above FDIC limits in full.
LEARN MORE: FDIC
LEARN MORE: DIF
The combination of FDIC and DIF insurance provides Country Bank customers with full deposit insurance on all their deposit accounts. If you need more information or would like to discuss your accounts, please visit any of our branches or contact our Customer Care Center at 800-322-8233.
No. While there are other “excess” deposit insuring entities, only Massachusetts chartered savings banks (and one federal savings bank) provide the additional protection of DIF insurance. For additional information visit the DIF website.
No depositor has ever lost any money in a bank insured by both the FDIC and the DIF. The DIF has more than $300 million dollars in assets, plus an additional $100 million of reinsurance.
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