Individual Retirement Accounts (IRAs)
An Individual Retirement Account (IRA) is the tax-sheltered investment for every wage earner. It’s never too early to begin planning for retirement, and an IRA may help you save on your taxes now and provide important financial security that you will need when you do retire.
Invest in IRA Savings or an IRA Certificate in the plan of your choice. Review the following plans to determine which IRA Savings may be right for you:
IRA Savings
With a $50.00 initial deposit you can set up a Traditional IRA and/or Roth IRA. You can then make deposits throughout the year as your budget allows via Payroll Deduction, Direct Deposit, mail, or in person. Once your balance reaches $2,000 you can transfer funds to a high-yield IRA Savings Certificate.
IRA Certificates
Lock in a high yield for a specified investment term with our Share Certificates, Traditional IRA Share Certificates, and Roth IRA Share Certificates. The longer the term, the higher the return. Minimum deposits start at $2,000.
No annual maintenance fees
$2,000 Minimum balance requirement
Dividends calculated daily and paid monthly
Terms range from 3 months to 60 months
Which IRA Plan is Best for You?
If you’re thinking of opening an IRA, it’s best to know which IRA plan is best for your retirement strategy before you open it. Silverado offers three types of IRA plans:
Traditional IRA
Roth IRA
Educational IRA
