Personal Banking Products

Contact Our
Personal Banking Specialists

Glen Lake:
(952) 935-8663

Country Village:
(952) 935-5995

Individual Retirement Arrangements (IRAs)

An IRA is a personal savings plan that gives you tax advantages for setting money aside for retirement to help you reach your savings goals.  Consult with your tax or legal professional to review the IRS eligibility requirements to find the best IRA for you.  We offer both Traditional IRAs and Roth IRAs.

The Traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn.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 you make them.

The Roth IRA allows only nondeductible contributions and features tax free withdrawals for certain distribution reasons after a five year holding period.  This means the earnings on your contributions can be tax free.

IRAs are separately insured by the FDIC up to $250,000 from any other accounts you may have on deposit with us.  The IRS Publication 590, Individual Retirement Arrangements, found on the IRS web site can provide detailed information about IRAs.

Traditional and Roth IRA Contribution Limits

Year: Traditional IRA and Roth IRA Annual
Contribution Limit:
Additional Catch-up contribution for people age 50 and older*:
2011 $5000 $1000*
2012 $5000 $1000*
2013 $5500 $1000*
2014 $5500 $1000*

*You must be projected to reach age 50 or older by 12/31 of the tax year to which the contribution relates.

Invest in your future.  No matter what your age, now is the time to plan for your retirement.  Our IRAs work as hard as you do.  Contact our personal banking specialists today.

See how much you could save!

Click on the links below to see contribution limits and to view our current interest rates.  Sample our online calculator to determine how much you need to save to reach a certain goal, or if you put a set amount into savings on a consistent basis, to see to what amount that money could grow over time.

The sooner you begin saving for retirement, the more time your money has the potential to grow.  It pays to start saving now and to contribute regularly.

Check out our great rates
Use our savings calculator

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Bank Among Friends
Disclaimer
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The Fair Housing Act prohibits discrimination in housing because of:

Mission

Enforce the Fair Housing Act and other civil rights laws to ensure the right of equal housing opportunity and free and fair housing choice without discrimination based on race, color, religion, sex, national origin, disability or family composition.

Major Goals

1. Reduce discrimination in housing by doubling the Title VIII case load by the end of 2000 through aggressive enforcement of civil rights and fair housing laws;

2. Promote geographic mobility for low-income and minority households;

3. Integrate fair housing plans into HUD's Consolidated Plans;

4. Further fair housing in other relevant programs of the Federal government; and

5. Promote substantial equivalency among state, local and community organizations involved in providing housing.