Personal

Individual Retirement Accounts

Your retirement savings may include various accounts and options. We offer an Individualized Retirement Account (IRA) to get you started or to compliment your existing savings. IRA services include:

  • Traditional IRA
  • Roth IRA
  • Amplifier IRA
  • Transfers and Rollovers
  • Simplified Employee Pension (SEP)
  • Coverdell Education Savings Account

Traditional IRA – Tax-Deferred Savings for Your Retirement

A Traditional IRA is a retirement account funded by an individual’s own earnings. Contributions and earnings are tax-deferred until withdrawn. This IRA is a great source of retirement income in addition to your social security or pension. Click here for additional features and benefits.

Roth IRA – Tax-Free Income at Retirement

The Roth IRA is a retirement account alternative for individuals who prefer the tax-free earnings at retirement instead of the annual tax deduction of the Traditional IRA. It is also available to those individuals who do not qualify for the tax deduction due to their participation in an employer-sponsored retirement plan. Click here for additional features and benefits.

Amplifier IRA

The Amplifier IRA CD is a 12-month CD product designed to simplify your retirement savings. Features include a low minimum balance, preferred interest rate, and a regular deposit schedule so you can decide how much and how often to deposit.*

Transfers and Rollovers – Moving Your Retirement Funds

There are several ways to move your retirement funds and keep the assets tax-deferred. When moving your IRA or employer-sponsored retirement plan (Qualified Plan) you have the choices of a direct transfer, rollover, or direct rollover. Click here for more information about transfers and rollovers.

Simplified Employee Pension (SEP) – A Simplified Retirement Plan for the Self-Employed

An SEP is a retirement plan that allows a self-employed individual to make contributions for him/herself and any eligible employees. An SEP eliminates complicated government reporting. Click here for the features and benefits of an SEP.

Coverdell Education Savings Account – Saving for a Child’s Education Expenses

A Coverdell Education Account is an account created to help parents and others save for the payment of a child’s qualified education expenses. Click here for the features and benefits of a Coverdell Education Savings Account.

Contact our IRA Department at 978-452-1300 to open an IRA today.

*Minimum balance to open the certificate is $100. A penalty may be imposed for early withdrawal. Fees could reduce earnings on the account.