Retirement Accounts Minimize

It is never too early to start saving for retirement or education.

Traditional IRA - Still the favorite choice for retirement planning or rollovers! A Traditional IRA allows you to contribute a maximum of $5,000 per year. Contributions are generally tax deductible and earnings are tax deferred. (Catch-up contributions may be made by those who are at least age 50 by the end of the year.)

Roth IRA - A Roth IRA allows you to contribute based on your modified adjusted gross income. Contributions are not tax deductible; distributions from a Roth IRA are not taxable if they are made more than four (4) years after the end of the first year a contribution was made, if one of the following conditions are met.

  • after you are 59 1/2
  • because you are disabled
  • to a beneficiary or your estate after your death
  • to buy, build or rebuild a first home

Education IRA - An Education IRA allows you to contribute a maximum of $2000 per year toward higher education.

For current rates and Annual Percentage Yields (APY), please call 580-625-4500.

All depositors are insured for up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).

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